Unit 3: Economic Systems (ch. 6 & 8)
Unit 3 Calendar
Updated plans for the week of November 30-December 4-->
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Textbook: Chapter 6 & 8
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Economic Unit - Student Handout
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Economies Graphic Organizer
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Economic Systems Spectrum Handout
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Introduction to Economics
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Check your Understanding:
1. What causes scarcity? 2. What are the three types of resources? 3. Why do we need an economy? 4. What are the three key questions in any economy? 5. What is the difference between right wing and left wing economies? 6. What is the difference between public and private property, and why do people support these ideas? 7. What are the three most common ways to label an economy? 8. Why is it important for you to have an understanding of economics? |
Chapter 6: Market & Mixed Economies |
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Intro to Capitalism & US Economy
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Check your Understanding:
1. What does invisible hand mean? 2. What does laissez-faire mean? 3. How does a market economy answer the three key questions? 4. Why does capitalism work well? 5. Why does capitalism NOT work well? 6. What is communism and why does it not work either? 7. What is a welfare capitalist economy? 8. How do we know that the United States is a welfare capitalist state? 9. Why do we say that the United States has moved left in the last century? |
Centrally Planned/Command Economy & Traditional Economy
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Canada's Mixed Economy
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Check your Understanding:
1. What is the difference between standard of living and quality of life? 2. What do taxes and socialism have to do with each other? 3. Why is progressive taxation considered income redistribution? 4. What is a Crown Corporation? 5. How does Canada’s mixed economy answer the three economic questions? 6. Why do some Canadians have concerns with the government playing a role in our economy? 7. If someone wants less government intervention, why do we call this a shift right? |
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The Role of Unions
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Check your Understanding:
1. Why were working conditions so terrible during the Industrial Revolution? 2. Why were unions created? 3. Was it easy to create unions initially? 4. Why did the support for unions increase? 5. What are some programs that everyone has today through the government that were initially given to union members by the private companies? 6. Why are some people opposed to unions today? |
Open the document below to help you with the given worksheet
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Chapter 8: Social Programs and Taxation
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Check your Understanding:
1. What is the main goal of socialism and/or social programs? 2. What are two social programs in Canada? 3. What are two reasons why we people support these programs? 4. What are two reasons why people oppose these programs? 5. After looking at the graph explaining the pros and cons to the various health care systems, which system do you prefer and what is your reasoning (use evidence from the video or other class discussion). 6. What is tax evasion, paying under the table, the underground economy, and the black market? |