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Unit 4 Topic A: Economic Systems
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Unit 4: Economics
Topic A: Economic Systems
Unit 4 Topic A: Economic Systems
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Unit 4 Topic A: Economic Systems
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OUTCOMES: YOU NEED TO DECIDE WHAY POWEPOINTS AND ASSIGNMENTS FIT WHICH OUTCOMES
!"#What are the principles of a market economy? (ER) pg. 204 chart, 209-213 #####$"##Why do governments intervene in a market economy? (ER, PADM) 214 - 215 #####%"##Why is Canada viewed as having a mixed economy? (ER, PADM) pg 204 chart, 219-228 #####&"#What is the role of the consumer in market and mixed economies? (ER) #####'"#To what extent do consumer actions reflect individual and collective identity? (ER, I) # 6) How has the emergence of labour unions impacted market and mixed economies? (ER) pg 229-235 #####("#What are some similarities and differences in the way governments in Canada and the United States intervene in the market economies? (ER, PADM, GC) pg 203-208 #####)"#How do the economic systems of Canada and the United States differ in answering the basic economic question of scarcity? (ER, PADM, GC) Pg 198-203
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FACTORS OF PRODUCTION
Land Labour Capital
_______________________ ________________ _______________________ ________________
_______________________ ________________ _______________________ ________________
_______________________ ________________
_______________________ _________________
_______________________ _________________
_______________________ __________________
What are the basic economic questions? What is SCARCITY?
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SOCIAL STUDIES 9
Journal Entry: Role of Economic Systems
Answer the following question: What role do you believe economic systems play in supplying you with things you use every day? Write a journal entry to record your thoughts. Use the Scoring Criteria: Journal Entry to evaluate your journal entry. Save your journal entry and rubric to your Portfolio.
Scoring Criteria: Journal Entry
Relevance of Information
Excellent I have provided a well thought and detailed response with excellent reasons.
Satisfactory I have provided some thought and detail with a few reasons.
Limited I am unable to provide any thought or reasoning for the question. I need to consult my teacher for assistance.
Patricia Lychak et al., Issues for Canadians: Student Resource (Scarborough: Nelson Education Ltd., 2008). Handout 6-10. Reproduced by permission.
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SOCIAL STUDIES 9 MODULE 4: SECTION 1: LESSON 3
Government Involvement in the Economy
Complete the following chart based on what you read in “Canadian Economic History versus U.S. Economic History” on page 205 of your textbook. Government Involvement in the Economy
Canada United States
How is the Public Good achieved?
What are similarities in the
economic systems?
What are differences in the
economic systems?
Why do governments get
involved?
My thoughts on government
involvement in the economy.
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Supply and Demand
The sellers determine the supply. The buyers determine the demand. In a free competitive market, the price of whatever it is moves up or down until the amount supplied equals the amount demanded. When the price stops moving, you have what is called equilibrium.
Define the following:
Consumer: _______________________________________
Producer: ________________________________________
Create your own diagrams to show the cause-and-effect relationship of supply and demand.
In a state of equilibrium, the supply of a product can _______ the demand for a product at a particular price.
When demand goes up, what happens to supply? What happens to price?
Why would the demand go up? _________________________________
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Why would the supply go down? ________________________________
Why does the price go down? __________________________________
When price goes up, what happens to demand? What happens to supply?
Why would the price of a product go up? ___________________________
Why would the demand go down? _______________________________
Why does the supply go up? ___________________________________
When supply goes up, what happens to price? What happens to demand?
Why would the supply of a product go up? __________________________
Why would the price go down? __________________________________
Why does the demand go up? ___________________________________
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Look at Page 214 – 215
Complete the question in the blue box on page 214
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SOCIAL STUDIES 9 MODULE 4: SECTION 1: LESSON 3
Case Study Analysis Examine on pages 219 to 224 of your textbook “Case Study 1: The Case of the Canadian Filmmaker.” How does the Canadian government support the arts? Examine on pages 226 and 227 of your textbook “Case Study 2: The Case of the Disappearing Jobs.” How should government respond to protecting jobs? Examine on pages 229-232 of your textbook “Case Study 3: A Workers’ Strike.”
Case Study Main Point Perspective of a Mixed Economist
Perspective of a Market Economist
The Canadian Filmmaker
Pages 219-225
The Disappearing Jobs
Pages 226-228
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A Workers’ Strike
Pages 229-232
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SOCIAL STUDIES 9
Labour Unions Graphic Organizer
1. Complete the following graphic organizer.
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2. Answer “Critical Thinking Challenge” on page 232 of your textbook.
3. Answer “Connect to the Big Ideas” question 1 on page 233 of your textbook.
