Economic Stuff!
Abs n' Euros!
More Economic Stuff!
Sectors
Rob the Word Bank!
100
The main purpose of an economic system is to answer what questions (pick one)?
What goods and services do people need and want? How can we produce these goods and services? How will we distribute them?
100
Why did the Europeans go to North America?
What is the fact that the Europeans left their continent in search of more land and resources. Because they believed in land ownership, most of Europe was owned by the Kings and Queens or the very rich, leaving much of the population very poor. Consequently, many came to North America looking for land and resources to call their own.
100
This includes all the other things we need and want in life that money can’t buy.
What is Quality of Life?
100
Work in this sector involves harvesting or extracting natural resources. Examples include farming, fishing, forestry, and mining.
What is the primary sector?
100
This is the term historians use to refer to the time when Europeans first came to North America.
What is Contact?
200
European economies at the time of contact were based on two main ideas (pick one):
What is: Goods and Services are distributed through buying and selling. Individuals should be free to become as wealthy as they can.
200
This is how Europeans produced goods:
What is in the fact that many goods were produced by individuals who specialized in one area? For example, a village usually had a blacksmith who did metal work. This was called a trade. Other trades included: bakers, dressmakers, shoemakers, bankers, and weavers.
200
These are the two ways to define poverty.
What are: The first is through looking at people’s standard of living. Standard of living is how much buying power a family has. In this way of thinking, a family is living in poverty when it has a lower standard of living than most people in society. The second way of looking at poverty is to calculate whether or not you can survive on the amount of money you make. When expenses are higher than income, the result is poverty.
200
This sector involves working with ideas and information. These jobs conduct research and develop new products/technologies. Examples include computer programming and medical research.
What is the Quaternary Sector?
200
An agreement between two or more nations.
What is a treaty?
300
(DAILY DOUBLE!!) The economy is made up of these and these.
What are goods and services?
300
This is how Aboriginals produced goods:
What is the fact that goods that first nations and Inuit needed in their lives were made by hand, mostly using stone and bone tools. People became very skilled at using their resources in very efficient ways.
300
This is the poverty cycle.
What is: A man has very poor health. The man cannot work. The man is in poverty. The man’s poor health continues because he lives in poverty. The man, because of this, still cannot work. A man has no transportation and finds it very difficult to get to job interviews. The man can’t secure a job. The man is in poverty. The man’s poverty prevents him from getting transportation. The man, because of this, still cannot secure work.
300
A doctor working in a state-of-the-art high tech hospital is an example of this sector of the economy.
What is the tertiary sector?
300
This is the money the business owner makes after being repaid for the capital he invested plus more for this service.
What is Profit?
400
This is the four-step process in which the economy runs in a capitalist system.
What is: Money goes to businesses. Businesses make goods and provide services. Wages go to workers. Workers buy goods and services.
400
This is the First Nations Economic View:
What is that the First Nations and Inuit believe that people and nature are not separate. Instead, people are a part of a natural system that includes the land, water, plants, and animals. In this view, the land and natural resources are seen as the source of life and must be respected and used wisely.
400
(DAILY DOUBLE!!!) These are two ways in which you can break the poverty cycle!
What are: Get training or further education to improve your job skills. Ask for help from others or from organizations like Habitat for Humanity.
400
A man carries loads of fresh fruits and vegetables straight from the ground to the grocery stores.
What is the Tertiary Sector?
400
This includes anything you have that can help you improve your economic situation. This might be savings, property, skills, or willingness to work hard.
What is Personal Capital?
500
This is the main goal of companies within the capitalist economic system.
What is to make as much profit as possible for the people who own the company?
500
This is the economic view of the Europeans:
What is that, in Europe, the economic system was based on the idea that if you owned land or a resource, you had the right to make as much profit from it as possible. The main goal for most people was to work to benefit themselves and their families.
500
An economic system that has a good balance of jobs in all sectors. It has high living standards for most people, based on manufacturing, service, and information industries.
What is a Diversified Economy?
500
Although the primary sector is still common in THIS kind of economy, there are more and more Secondary sector jobs being created!
What is the Industrializing Economy?
500
This is borrowed money from a bank in order to purchase a house.
What is a mortgage?
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