UNIONS & STRIKES
What is: a cessation of work by workers. Strikes pressure employers to respond to issues that concern workers.
Individual consumers have little influence on economic decision making in a:
a. left wing economy
b. right wing economy
What is: a. left wing economy, at this end of the spectrum (planned economy), government makes all the decisions about how to solve scarcity.
In an economic system, the opposite of competition is a _____________.
What is: a monopoly?
A marketing technique that encourages you to buy a product/service because everyone else is.
Define "Public good".
What is: The public good is about what’s best for society as a whole. Worldviews differ on how best to achieve it.
TRUE or FALSE - Free collective bargaining, backed by power of the strike, is considered a fundamental good in Canadian democracy and society.
What is TRUE?
a. Canada
b. U.S.A
What is: a. Canada. The founding principle of Canada reflects the idea of cooperation. It connects to an agreement between Francophones and Anglophones that established Canada.
When the price of a product goes up, fewer consumers can afford to buy it. This drives down demand for the product. Would supply for the product then...
A. INCREASE
B. DECREASE
What is: A. INCREASE. Fewer consumers buy the product, so the supply — or availability of the product — goes up.
A marketing technique that connects with your fears and desires to encourage you to buy a product/service.
What is "Emotional Appeal"?
Define both SUPPLY AND DEMAND.
What is: supply is the products and services created by producers and demand is the wants and needs of consumers for products and services.
"Bloody Saturday", a violent strike on June 21, 1919, occurred in which province?
What is Winnipeg?
The three basic “factors of production” interact to limit the supply of what people need and want. These include land, _________, and __________.
What is: These include land, labor, and capital.
When the supply of a product goes up, more of the product is available. If there are more products available than consumers want to buy, producers cut prices to encourage consumers to buy more. Does demand then:
a. INCREASE
b. DECREASE
What is: A. Increase. The lower price encourages consumers to buy more, so demand for the product goes up.
A marketing technique that seems to promise everything, but deliver little or nothing.
What is "Glittering Generalities"?
What is: the idea that land (materials), labour and capital (money) limit the supply of what people want and need.
What did "The Nine Hour Movement" lobby for?
a. lobbied employees for a longer workday - from six hours up to nine.
b. lobbied employers for a shorter workday - from twelve hours down to nine.
c. lobbied for transportation, education, and health care for all employees who worked over nine hours per day.
What is: b. lobbied employers for a shorter workday — from twelve hours down to nine.
How do choices concerning jobs affect the workforce?
Example answer: Construction workers building a house - if they find other jobs, or if there aren’t many qualified construction workers available, fewer houses will get built.
Provide 2 factors that can a influence/impact competition in an economic system.
What is: the values of consumers; the decisions of government to become involved in decisions about supply and demand.
A marketing technique that uses celebrities or experts to speak for a product.
What are "testimonials"?
A _________ ___________ (2 words) is a company owned by Canada’s government to provide products and services to Canadians. An example is Petro-Canada, which was founded as this in 1975, by an act of Parliament.
What is: Crown Corporation.
Provide 3 roles of a LABOR UNION.
What is: Unions help employees by empowering workers to come together to negotiate fair wages and benefits; safe workplaces; and decent work hours that are governed and protected by a collective bargaining agreement.
Which country does this founding principle of the economy belong to: “life, liberty and the pursuit of happiness.”
a. Canada
b. U.S.A
What is: b. U.S.A. The founding principle of the U.S.A reflects the idea of individualism.
How does supply and demand affect quality of life?
What is: Supply and demand affect quality of life because they affect the prices of products we buy, the availability of products, and jobs connected to creating products.
Explain what a "boycott" is AND provide ONE example.
What is: A decision by consumers to stop buying a product or service as a way to bring about change.
ie. Boycott on L'Oreal hair products in the 2000's for animal testing; palm oil as it's a major driver of deforestation of some of the world's most biodiverse forests; local boycott - Tim Horton's when they were refusing to take cash (2020?)
Define "Collective Bargaining".
What is: a process used to determine terms and conditions of work and regulate relations between employers, workers and their organizations, leading to the conclusion of a collective agreement.