Basics
Household & Business Sector
Financial Institutions
Government Sector
Random & Foreign Sector
100
A country's economic systems needs to respond to these three things.
What is what to produce, how to produce and how to distribute what is produced?
100
These are the two types of flows that occur between the business and household sector.
What is real flows and money flows?
100
Businesses and households earn this on savings and pay this on borrowing.
What is interest?
100
This is how the government gets the money necessary to fulfil it's roles.
What is taxes?
100
Money flows are classified in these two categories, one type which helps the economy and another that does not.
What is injections and leakages?
200
Canada has a mixed economy which means it is a combination of both of these two types of ownership.
What is publicly owned and privately owned.
200
This is why households are called net savers.
What is they save more money than they borrow?
200
This is one of the things the government does with tax money.
What is provides public goods and services, establishes regulations to protect workers and consumers, provides grants, loans and services, restricts the production of certain things, employs people to produce goods and services?
200
The ways in which the three main leakages in our economy can be turned into injections.
What is savings can be spent, taxes can be used on public goods and services, and money spent on imports can be used on our exports?
300
Aside from production, an economy's role is to provide these two things, enabling people to buy goods and services they both need and want.
What is jobs and incomes?
300
In factor markets, this is what business get in exchange for money from the household sector.
What is resources (entrepreneurship, labour, land, natural resources, etc.)?
300
This is why businesses are called net borrowers.
What is they borrow more than they save?
300
The government runs this if they spend more than they receive.
What is a deficit?
300
This is why it is important for Canada to be able to compete with other countries, economically.
What is to maintain our standard of life and quality of living?
400
Economic growth, although usually looked at a positive thing, has these two negatives.
What is environmental strain and resource strain?
400
This is the four ways in which households use the money they get from the business sector.
What is savings, spendings, taxes and giving it away?
400
This is the type of flow the occurs between financial institutions and the household and business sector.
What is money flows?
400
This is what happens when the government spends less than they receive.
What is a surplus?
400
This market allows the buying of currencies so we can easily import and export goods with other countries.
What is foreign exchange market?
500
This is the key to economic growth by helping create, expand and improve business.
What is investment?
500
In the product market, money that households spend goes back into the business sector on this real flow.
What is goods and services?
500
Besides saving the money that they get from the household sector in financial institutions, these are the other four things that the business sector does with their earnings.
What is invest back into the business, cover business costs, give away and pay taxes?
500
The government uses these two forms of borrowing from Canadians and non-Canadians (on which the lenders earn interest) in deficit situations.
What is treasury bills and bonds.
500
Canadians selling goods to other countries is called this.
What is exports.
M
e
n
u