Flashcards in Unit 3 Deck (24):
1
Economy of Canada Contributions
Made up of contributions from
Business
Labor
Government
2
Canadian Governments
Revenue from taxes that businesses pay
25-40% of profits go to federal and provincial governments
Pay municipal property taxes
3
Governments Regulate Businesses Deal with Issues
Deals with issues
Environmental protection
Minimum wages
4
Strong Economy Has...
Good standard of living and quality of life
5
Business Cycle
When an economy starts to build up people start asking for more money. Companies start to pull out and the economy starts to slow down and wages drop
6
Ripple Effect
When companies start investing money in a specific area the area starts booming and people start to move there. Uneven balance and more expenses
7
Standard of Living
More money higher SOL
Refers to the amount of goods and services people enjoy
8
Gross Domestic Product
The average amount of income one person makes in that country over one year
9
Comparing SOL and GDP
High GDP isn't always a good thing
Measures the amount a person is producing per capita
Producing a lot-> good thing/stronger
10
Quality of Life
Includes people material SOL
Includes social & environmental factors
Life expectancy
Communication facilities
Infant mortality rates
11
Employment
Three main factors
Education
Experience
Unique
STAND OUT
Strong economy-> lots of jobs
12
Strong Economy
High employment
Good GDP, SOL, QOL
13
Unemployed
Out of work looking for employment
14
Income
Affects SOL and QOL
Impacts community around you
15
Factors Affecting Your Level of Income
Education
Employability
16
Workplace
Provide employment opportunities
Safe and healthy
People treated properly
17
Wealth Income Employment
PROFIT= REVENUE-EXPENSES
18
EDU level
80% of jobs require a high school diploma
50% require additional 5 years of training and education
90% of the require college and university
35% of your life you will be unemployed if you're not educated
19
Labor Movement
1900's employees form unions to fight against business owners and improvements to their standard and living and quality of life
20
Safety in the Workplace
RIPT
REACTION
INSPECTION
PREVENTION
TRAINING
21
Health in Workplace
Better lighting
Less noise
Food
Exercise program
22
Equal opportunity
Protect Canadians from unfair a treatment, discrimination and racism
23
Business and Community Challenges
Environmental Concerns
Land Use
Traffic
24