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Name:__________________________

Date:__________________________

Gr. 9 Chapter 6: To what extent do different economic systems affect quality of life?

Multiple Choice:

Identify the choice that best completes the statement or answers the question. Each question is one mark

1. A movement from a market economy towards a mixed economy is a

A. shift right

B. shift left

C. shift up

D. shift down

2. The former Soviet Union used to have a(n)

A. market economy

B. mixed economy

C. planned economy

D. economic continuum

3. Supply of a product involves producers. Demand for a product involves

A. price

B. economy

C. markets

D. consumers

4. “Canadian filmmakers should get government grants because Canadians need Canadian stories.” This is the opinion of a

A. planned economist

B. market economist

C. mixed economist

D. social economist

5. Which of the following is a tactic to put pressure put on employers to respond to issues that concern workers?

A. strike

B. lay off

C. closure

D. union

6. Labour laws in Canada prevent employers from hiring children

A. under the age of fourteen

B. full time

C. without permission from parents or guardians

D. part time

7. A market economist would view unions as

A. contributing to fair economic decision making

B. holding society hostage and pricing workers out of jobs

C. illegal with no influence on economic decision making

D. necessary to maintain order and good government

8. Which of the following occurs when workers in different sectors of the economy, in a particular place, organize to stop working at the same time?

A. recession

B. collective bargaining

C. labour union

D. general strike

9. The government uses money collected from __________ to pay for social services, education, and health care.

A. unions

B. taxes

C. employers

D. wages

10. Which of the following was a worldwide economic crisis that occurred in the 1930s?

A. women’s suffrage

B. the Great Depression

C. Passchendaele

D. the New Deal

11. Radio-Canada is an example of

A. a Canadian radio station

B. a publicly owned business

C. a Crown corporation

D. a French broadcasting company

12. Which of the following is a founding principle of the U.S.?

A. government involvement

B. individualism

C. environmentalism

D. co-operation

13. The Canadian Wheat Board is considered by some people to be a government __________.

A. market

B. agency

C. monopoly

D. owned business

14. Which of the following is a sum of money given to Canadian artists by the government?

A. grant

B. gift

C. retainer

D. mortgage

15. The economic goals emphasized in a centrally planned economy are:

A. Efficiency, Security, Innovation

B. Stability, Equality, Security

C. Efficiency, Equality, Freedom

D. Stability, Freedom, Innovation

16. Which of the following model economies correctly matches with one of its characteristics?

Model Economy Characteristic

A. Centrally planned economy = Consumer Choice

B. Centrally planned economy = Private initiative

C. Market economy = Individual freedom

D. Market economy = Collective good

17. Supporters of a market economy would probably favour government policies intended to:

A. Privatize industries

B. Nationalize industries

C. Legislate pollution control

D. Provide universal health care

Use the following information to answer question 18 and 19

[pic]

18. The government of an economic system at Position II would probably

A. Support private ownership

B. Determine consumer choices

C. Promote the profit motive

D. Encourage economic competition

19. The government that most represents the economic system at Position III would be

A. U.S.A

B. Russia

C. China

D. Sweden

Use the following information to answer question 20.

20. The economic expansion described above is most consistent with that which might occur in a:

A. Centrally planned economy

B. Traditional economy

C. Market economy

D. Mixed economy

21. A supporter of a centrally planned economy favours the state owning and controlling:

A. All industries

B. No industries

C. Only a few industries

D. Only the major industries

Use the following information to answer question 22

22. What does this diagram best describe?

A. Centrally planned economy

B. State of equilibrium

C. The demand of consumers

D. That supply needs to increase

23. Which of the following statements best describes a mixed economy?

A. The government determines production and services.

B. Purchasing power depends on the ability to earn income.

C. Consumer choices are regulated by the government.

D. Capital is provided by the private and public sectors.

24. In a model market economy, which of the following groups has the least important role?

A. Labour

B. Consumers

C. Government

D. Corporations

Use the following statement to answer question 25

25. Which of the following individuals would most likely make this statement?

A. A worker

B. A consumer

C. A union leader

D. A government official

Use the following diagram to answer question 26

26. What happens to the price in this situation?

A. The price goes up

B. The price stays the same

C. The price goes down

D. Reaches a state of equilibrium

27. The lower price encourages consumers to buy more, so demand for the product:

A. Goes down

B. Stays the same

C. Goes up

D. All of the above

28. This is what it is called when unions and employers get together to decide on labour conditions:

A. Annual general meeting

B. Union hall meeting

C. Collective bargaining

D. A strike meeting

29. A person who values individualism would believe that most people

A. Can make informed decisions

B. Function best in a planned society

C. Require guidance to ensure that their goals are achieved

D. Should have their choices coordinated to serve the goals of society

30. This concept leans to the idea that rivalry among producers will find a natural price for the products:

A. Economics

B. Competition

C. Sales

D. Natural flow market system

31. Which of the following is not a factor of production?

A. Land

B. Labour

C. Competition

D. Capital

32. Which of the following is not another name for a free market economy?

A. Capitalist

B. Private

C. Public

D. Laissez-Faire

33. Which of the following is not another name for a centrally planned economy?

A. Command

B. Private

C. Public

D. Communism

34. Scarcity is:

A. Limited Resources vs. Unlimited Wants and Needs

B. Unlimited Wants and Needs vs. Unlimited Resources

C. Limited Wants and Needs vs. Unlimited Resources

D. None of the above

35. Which of the following economic questions do economic systems not answer?

A. What to produce?

B. How to produce goods?

C. For whom are goods produced?

D. Why to produce?

Long Answer

Provide a paragraph answer. The long answer question is worth 5 marks.

36. Describe the basic principles of supply and demand, and how it affects quality of life.

1. Supply and demand is a cause and effect relationship related to price.

2. As the demand for a product goes up, the supply goes down. This causes the price of the product to rise.

3. When the price rises, the demand goes down, because people can no longer afford to buy that product. Once the demand goes down, the supply goes back up.

4. An increase in supply means that the price of the product will decrease, making the demand for the product increase.

5. Supply and demand affects quality of life because it affects the prices of products and the availability of products and jobs.

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Economic Spectrum

I II III IV V

Complete Government Control

No

Government Control

Modern industry grew out of the needs of a booming farming economy for a more extensive transport system, for new railways, new and improved roads, bigger lakes grain carriers, refrigerated ocean steamers and the machines and tools needs to produce them. It grew under the protection of the federal government’s tariff policy. It grew with the expanding cities, which at once provided labour for its factories, and people who demanded an increasing array of consumer goods. It grew with the stimulus of new technology and the infusion of millions of dollars of capital. And finally, it grew with the active help of provincial governments…

Supply

(Producers)

Demand

(Consumers)

Price

“My goal is to improve employer – employee relations by getting better working conditions. Supporting employees encourages them to be more productive in the workplace.”

Supply

Demand

?

Supply

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