Chapter 6-7 Test Social

Question 1

economics

Answer 1

Study of production,consumption,distribution of goods

Question 2

economic system

Answer 2

the way society organizes the production,consumption,distribution of goods

Question 3

economy

Answer 3

resources/processes involved in distribution,consumption,production of goods

Question 4

Scarcity

Answer 4

Idea that land,labour,capital limit the supply of what we need

Question 5

questions about scarcity

Answer 5

what is needed
how is it made
who gets it

Question 6

3 factors of scarcity

Answer 6

Land-Material
Labour-Physical/mental effort
Capital-Money owned or borrowed to make goods/services

Question 7

Another name for scarcity

Answer 7

Factors of production

Question 8

private owned

Answer 8

owned by individuals/businesses

Question 9

Public owned

Answer 9

Owned by gov
Paid for by taxes

Question 10

Planned/command economy

Answer 10

gov makes decisions,little consumer influence,public owned,little incentive to work

Question 11

Mixed economy

Answer 11

private+public owned
gov level fluctuates based on political party
95% of world

Question 12

Market economy

Answer 12

Individual choices
Private owned businesses
Least gov involvement
if u dont work you may be poor
variety
free enterprise

Question 13

Canadas economy

Answer 13

Mixed

Question 14

US economy

Answer 14

Market

Question 15

North Korea economy

Answer 15

Planned

Question 16

Traditional economy

Answer 16

Follow traditions of ancestors
little change
Less modern
Barter system
Amish

Question 17

Whats best for society
Values equity
Canada

Answer 17

Public good and cooperation

Question 18

Whats best for each person=best for society
Independance
US

Answer 18

Public good and Individualism

Question 19

More gov involvement (more liberal)

Answer 19

Shift left

Question 20

Less gov involvement (more conservative)

Answer 20

Shift right

Question 21

Peace,order and good gov

Answer 21

Canada’s founding principle

Question 22

Life,liberty and the pursuit of happiness

Answer 22

US founding principle

Question 23

Crown Corporation

Answer 23

Company owned by Canadian gov

Question 24

Reasons for crown corporation

Answer 24

Provides essential services
Promotes economic development
Support canadian culture and identity

Question 25

Equilibrium

Answer 25

Supply can meet demand at a certain price

Question 26

Supply goes up

Answer 26

demand up price down

Question 27

Demand goes up

Answer 27

supply down price up

Question 28

price goes up

Answer 28

demand down supply up

Question 29

Competition

Answer 29

Rivalry among producers to sell Affected by values of gov and consumers

Question 30

Monopoly

Answer 30

1 producer controls all supply of a good/service Gov does this to provide essentials that are expensive

Question 31

Water and sewer lines are an example of a

Answer 31

Monopoly

Question 32

Percent of ppl with no jobs

Answer 32

Unemployment rate

Question 33

strike

Answer 33

cessation of work by workers to pressure employers for change

Question 34

Labour union

Answer 34

organization of workers to protect workers rights./interests

Question 35

Labour code

Answer 35

workers can form unions set bargaining procedures,wages,hours,safety, etc

Question 36

workers in diff sectors of economy in a certain place stop working

Answer 36

General Strike

Question 37

Section 2 of charter

Answer 37

Workers can unite and present demands to employers Employers must negotiate w employees

Question 38

consumerism

Answer 38

The more ppl buy the better for the economy

Question 39

70% of economic activity

Answer 39

consumer spending

Question 40

Degree to which a countries wealth increases over a year

Answer 40

Economic gorwth

Question 41

Measuring economic growth

Answer 41

how much profit a country makes Amount of people who have jobs/make income

Question 42

Factors that affect consumer behaviour

Answer 42

identity-why health/safety jobs-who made it environment-affects the earth marketing-ads

Question 43

Advertising Techniques

Answer 43

Bandwagon effect emotional appeal glittering generalities plain folks appeal testimonials scientific appeal

Question 44

Bandwagon effect

Answer 44

buy b/c everyone else is

Question 45

gittering generalities

Answer 45

u know it doesn't work Promise sm but deliver nothing

Question 46

plain folks appeal

Answer 46

ordinary person experience

Question 47

boycott

Answer 47

decision by consumers to not buy a product to bring change

Question 48

GDP (gross domestic product)

Answer 48

amount of wealth a country generates

Question 49

GDP per capita

Answer 49

average per person estimate how well off ppl are in a country GDP divided by how many ppl