Economic Systems
What type of economy does Canada have?
Mixed economy
Which factor of consumer behaviour relates to how people see themselves and want others to see them?
Identity
What advertising technique encourages people to buy a product because everyone else is buying it?
Bandwagon Effect
What is the financial gain made by a company or business owner called?
Profit
How many major political parties are there in Canada?
Five
What type of economy does the United States have?
Market economy
Which factor encourages consumers to consider whether products are safe to use?
Health and safety
What advertising technique uses emotions such as happiness, fear, or nostalgia?
Emotional Appeal
What is the main source of funding for social programs in Canada?
Taxes
How many major political parties are there in the United States?
Two
In what economic system does the government make most decisions about resources and production?
Planned economy
Which factor might encourage someone to buy products made by companies that create jobs in Canada?
Jobs
What advertising technique uses celebrities or experts to promote a product?
Testimonials
Name one social program commonly funded by taxes in Canada.
Healthcare, pensions, or income assistance
How many voter endorsements are needed for a new political party to appear on a Canadian ballot?
250
A government increases social programs and pensions. Which direction has it shifted on the economic continuum?
Left
Which factor influences consumers to buy products that are environmentally friendly?
Environment
What advertising technique uses vague but positive words that sound impressive?
Glittering Generalities
What term describes all economic activity that governments tax?
Tax base
Which political party is associated with issues such as crime, healthcare, and lower taxes?
Conservative Party
What are the main differences between a mixed economy and a market economy?
A mixed economy has both government involvement and private enterprise, while a market economy relies mainly on private ownership and consumer demand.
What are the five factors that guide consumer behaviour?
Identity, health and safety, jobs, environment, and marketing
What advertising technique uses statistics or scientific research to persuade consumers?
Scientific Appeal
Why do Canadians generally pay higher taxes than Americans?
To help fund social programs such as healthcare, pensions, and income assistance.
Which former Canadian Prime Minister was known for cutting government spending and shifting economic policy to the right?
Brian Mulroney