economic development

Question 0

Define tariffs

Answer 0

Taxes placed on imported goods

Question 1

Define staple

Answer 1

Raw materials like fish, timber, wheat, *product that dominates an economy’s exports

Question 2

Define hinterland

Answer 2

A region that provides resources needed by the heartland

Question 3

Defined heartland

Answer 3

A region that is the economic centre of a country

Question 4

Define Mercantilism

Answer 4

An economic system based on obtaining gold/natural resources and the exploitation of colonies

Question 5

If Colchester county was the economic region, what would be the heartland and hinterland?

Answer 5

Heartland=truro

Hinterland=Onslow/Debert/Bass River

Question 6

What’s Canada’s four main staples?

Answer 6

Fish, furs, wheat and timber

Question 7

What is a staple trap?

Answer 7

When a place relies on staples income even though it isn’t enough to get by on

Question 8

Define Economy

Answer 8

The ability for a country (or person/family) to provide for their needs and wants with resources available to them

Question 9

Explain supply and demand

Answer 9

🔻supply=🔺demand >more expensive

Ex.water, oil, diamond, healthy food, gold

🔺supply=🔻demand >less expensive

Ex. Blackberry, paper, wheat, fast food

Question 10

What were aboriginal contributions to the worlds agriculture?

Answer 10

60% of the worlds crops cultivated today were initially developed by aboriginal farmers in Americans.
They believed that people had a responsibility to care for the land and it’s resources on behalf of future generations

Question 11

Explain main difference between aboriginal and European agriculture

Answer 11

Aboriginals=biodiversity-viewed animals and plants as shared resources
Europeans=monoculture-aimed to control nature

Question 12

Threes sisters?

Answer 12

Corn, squash, beans

Question 13

Define sustainability

Answer 13

Capable of being sustained/maintained
-it should be able to last forever, involving methods that do not completely use up or destroy natural resources. The Aboriginals managed their natural resources in a way that preserves them for future generations

Question 14

What’s pharmacology

Answer 14

The science of drugs

Question 15

Define scurvy

Answer 15

A disease caused by a deficiency of vitamin C.

Cured it with drink made cedar bark and needles-rich in V. c

Question 16

What’s NWC stand for

Answer 16

The northwest Company

Question 17

Timber used for shipbuilding is an example of what kind of industry?

Answer 17

Secondary industry

Question 18

Where is the heartland of Canada’s economy

Answer 18

Upper Canada(Ontario)

Question 19

The us banned alcohol which was called what?

Answer 19

Prohibition

Question 20

Illegal drinking in bars is called what?

Answer 20

Speakeasies

Question 21

What was the major secondary industry of the Maritimes in 18th and 19th centuries. And why?

Answer 21

Timber- for shipbuilding- sent ship to the US importing alcohol(.illegal in us at time) ships called Rum Runners

Question 22

List 4 fads of 1920’s

Answer 22

Boyish haircuts, gambling, flappers, contests, crossword puzzles

Question 23

What are the two types of tariffs

Answer 23

Revenue tariffs-taxes on imports on things we don’t produce

Protective tariffs- protecting local businesses by making having taxes on outside companies

Question 24

What’s capitalism

Answer 24

An economic system in which the economy is privately owned and run by individuals or corporations who might compete with one another in an open free market for profit. -little/no government involved-laissez faire (right wing)

Question 25

What’s socialism

Answer 25

Is an economic system in which the economy is primarily managed and controlled by the government. Communism is a form of socialism in which the government has no real opposition and is ruled by a dictator.
The working class(proletariat) works for, and is cared for by the gov. (Left wing)

Question 26

Give examples of capitalism and socialism in Canada

Answer 26

Capitalism
-privately owned businesses/companies 
-private schools
-private health care 
Socialism 
-taxes
-public schools 
-public Heath care 
-laws about economy>minimum age(drinking +driving)

Question 27

What’s Black Thursday

Answer 27

In 1929 stock markets closed around the world and much of the world plunged in the Great Depression(lasted 10 years)

Question 28

What were some reasons that led to the Great Depression?

Answer 28

• too much credit buying

- too much reliance on the US

Question 29

Who was prime minister at time of the G D?

Answer 29

W L Mackenzie king

Question 30

What was the symbol of the hard times during the G D?

Answer 30

The bennet buggy

Question 31

In 1935 Canada adopts a mixed economy, what’s that?

Answer 31

A system that mixes private enterprise(capitalism) with public government funding(socialism)
Ex. Higher taxes, pension plans

Question 32

What ultimately ended the Great Depression

Answer 32

Outbreak of WW2 and the huge military spending

-the government issued victory bonds to help finance the war

Question 33

What are sweatshops

Answer 33

Places in which people labour for long hours under harsh working conditions for little wages

Question 34

Define social safety net

Answer 34

Government programs and services that provide aid for citizens in need

Question 35

Define infant mortality rate

Answer 35

The number of babies per 1000 births who die before the age of one

Question 36

What’s FTAA

Answer 36

The free trade area of the Americas

-trade agreement which wold eliminate all non-tariff barriers on services

Question 37

What’s transnational corporation

Answer 37

Corporations that have branch plants operating in many countries

Question 38

What is WTO and whats the problem with it?

Answer 38

World Trade Organization-an agency of countries that control 82% of world trade
Problem:
- too much economic control in too few countries hands
-transnational companies would become more powerful, more influential than elected gov’ts
Ex. Toyota

Question 39

What are some population problems?

Answer 39

• 80% of can. Population live in cities compared to 17% in 1871
• loss to the hinterlands- greater strain on resources allocation, transportation, pollution, concentration, crime, waste…
• aging pop. with slow growth overall(25% of pop. will be over 65 by 2035)

Question 40

Near future problems

Answer 40

• lessons workforce
• increase healthcare costs
• lower tax base(younger workers taxed at higher levels)