Download Chapter 6 - Grade 9!

Chapter 6 Chapter Inquiry: To what extent do different economic systems affect
quality of life?
Focus question: What values shape the mixed and market economies of Canada and the United States?
1. Explain what scarcity means and provide an example from your life. (pg
202)
Basic economic questions:
• what is to be produced?
• how is it to be produced?
• how should it be distributed?
The way an economic system answers these questions shapes the type of economic system and creates issues
that shape the quality of life.
Scarcity occurs due to the interaction of the three factors of production.
2. Define each factor of production:
• Land
• Labour
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• Capital
3. Describe the land, labour and capital that is required to build a
school and keeping it running.
4. The continuum on page 204 illustrates the different economic systems.
It is important to understand that this is just a model and that no
countries are purely market or purely planned. This continuum simply
provides you with a way of understanding how economies differ based on the
amount of government involvement.
Planned
Market
Mixed
More government involvement
government involvement
Less
Planned
Mixed
Market
Characteristics:
•
•
•
•
•
•
•
•
•
Critical challenge:
The continuum is just a model. Based on what you know about Canada’s economy, where on the
continuum would you place Canada?
What aspects of market does Canada have?
What aspects of planned does Canada have?
5. As you read the chapter, complete the Venn diagram that illustrates the
similarity and differences between Canada (as a mixed economy) and the
United States (as a market economy)
Canada
United States
Case Study: What is the best way to achieve the public good?
What is the public good? (pg 205)
The public good is:
What are two views of the public good?
The public good is:
Public Good
What criteria would you use to determine if something is best for the public good?
Canadian and American societies are based up different principles that result in different beliefs and
values. Use page 206 & 208 to compare and contrast Canada and the United States.
Canada
United States
Founding principle:
Founding principle:
Ways this is seen in the economy
Ways this is seen in the economy
Example of a shift left
Example of a shift left
Example of a shift right
Example of a shift right
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Crown Corporation are:
Crown corporations do:
Examples:
My initial thoughts about crown corporations are that . . .
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The Law of
Supply and
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Demand
Price
PLUS
Demand
Price
PLUS
Supply
EQUALS
Demand
Supply
EQUALS
6. Describe a real life situation that illustrates the law of supply and
demand. (pg 210)
7. Explain what a state of equilibrium means. For whom is a state of
equilibrium most desirable? Explain why.
8. How can producers artificially change the state of equilibrium? Why
might they do this? How do governments try to address these actions?
9. What role does competition play in a market economy? Describe three
ways you are impacted by competition on a daily basis. (pg 212 - 213)
10.
a. What is a monopoly?
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b. Why do governments allow monopolies? What are some monopolies that
exist?
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c. Why do governments prevent monopolies?
d. Are monopolies ever acceptable? Under what conditions would you
allow a monopoly to exist?
10. Use page 214 - 215 to list all of the ways governments get involved in
the market.
Focus question: How do economic decisions about scarcity, supply and demand and
competition affect individuals and groups?
Case study on the culture industry
Use page 219 - 224 to list ways the government contributes to the culture industry.
Complete the pro’s and con’s chart on government involvement in the culture industry. Add any
interesting points that arise.
Pros
Cons
Interesting Points
To what extent do you think the government should be involved in the culture industry?
A great deal
Not at all
Case study on job creation
Use page 226 - 228 to list ways the government contributes to job creation.
Complete the pro’s and con’s chart on government involvement in job creation. Add any
interesting points that arise.
Pros
Cons
Interesting Points
To what extent do you think the government should be involved in job creation?
A great deal
Not at all
Case Study on Rights of Workers
Use pages 229 - 235 to complete the following information
List ways that workers can impact economic decision making.
Describe what a union is, their goals, their actions and some of the things they bargain for.
List the pros and cons of strikes.
Pros
Cons
Use page 233 & 235 to compare &
contrast the values and beliefs about
unions in a mixed vs market economy.
Mixed:
Interesting Points
List three factors that can
influence workers wages.
•
•
•
Market:
Take Action
What factor is most impacting
workers wages in
• Canada today?
• Calgary today?
Currently Canada is facing difficult economic times. There is pressure on
both the Canadian and American governments to provide massive stimulus
programs to the economy. Using the information from this chapter, write a
letter to Stephen Harper urging him to take a particular course of action
to resolve the problem.
Consider the following questions:
• what is the role of the government in an economy?
• how can the government impact the economy?
• what impact will any involvement have on the quality of life?
• do your suggestion reflect a mixed or market orientation towards
economic decision-making?
Your persuasive letter should be a minimum of 250 words and at least two
paragraphs.
Reflect on your learning
In this chapter I found out that government impacts our identity and
quality of life by . . .
The most important thing that I learned in this chapter about economic
decision making is . . .
Vocabulary list
Economics (pg 194)
Economic systems (pg 194)
Economy (pg 198)
Privately owned (pg 204)
Publicly owned (pg 204)
Competition (pg 212)
Strike (pg 229)
Collective Bargaining (pg 231)
Labour Unions (pg 231)
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