Social Studies 9 Chapter 6 Worksheet

Transcription

1 Social Studies 9 Chapter 6 Worksheet NAME: "To what extent do different economic systems affect quality of life?" 1. Economics is the study of 2. Economics is about what to create, grow, eat, sell and buy, and how to respond to the different of people in society. It affects the people make, the they have, and the they pay to the government. 3. How does the textbook define scarcity? 4. Most things that people want or need are. This is because are limited. In economics, resources include the,, and materials to supply what people want and need. 5. How does the textbook word the 3 basic economic questions? 6. The three basic factors of production are: 7. Define or explain each of the three factors of production in the space below: 8. An economic system is a way to solve the basic problem of. Different about how best to organize an result in different economic systems. 1

2 9. What is the difference between privately owned and publicly owned with regards to economic systems? 10. Label the following economic spectrum (or continuum) with the 3 basic types of economic systems and place Canada and the U.S. on the spectrum. 11. Complete the table with three basic points about each type of economy. PLANNED ECONOMY MIXED ECONOMY MARKET ECONOMY 12. Define public good: 13. Explain the difference between a view of public good based on cooperation and a view of public good based on individualism. 2

3 14. Explain the meanings of the terms shift left and shift right. 15. Use pages 206 and 208 to complete the following chart: CANADIAN ECONOMY Founding principle: AMERICAN ECONOMY Founding principle: The idea of affects Canada's economy. Mixed economy because... The idea of influences the U.S. economy. Market economy because... An example of a shift to the left: An example of a shift to the left: An example of a shift to the right: An example of a shift to the right: 3

4 16. What is a Crown corporation? 17. Three reasons for government to create Crown corporations include: 18. Which three examples of Crown corporations are provided on page 207? Which two are now privately owned? 19. Mixed and market economies are different, but related, economic systems. In both systems, the individual choices of are an important economic force. In pure economies, consumer choices drive economic decision making. In economies, they drive of economic decision making. 20. Define the following terms: a) consumers b) demand c) producers d) supply 4

5 21. Supply and demand connect through a relationship related to price. 22. Supply and demand affect because they affect the of products we buy, the of products, and connected to creating products. 23. Define competition: 24. Competition is about striving to get consumers to buy their products. Producers attract in a variety of ways - through different prices and product for example. 25. In an economic system, what is the opposite of competition? 26. A happens when one producers controls all of a product or service. Governments sometimes create as a way to provide services that require expensive, such as water lines or sewer lines. 27. Why might governments get involved in market economies? **********You do not have to read p ************ 28. Workers organize to represent their needs to employers. Unions provide a way for to act as a. Unions make possible. 29. By organizing workers into groups, unions can employers about, working hours, and workplace. are a form of pressure. During strikes, workers as a group to do their jobs. 5

6 30. In the table below, summarize the key points of each letter to the editor on p In what ways do the two economists have different views about labour unions? Government must respect unions (from a mixed economist) Government must control unions (from a market economist) 31. In a complete paragraph below, explain which type of economic system you think is better: mixed or market? Support your position with specific arguments and examples. 6