Canada's Mixed Economy Quiz

Economic Systems

• Economics is about satisfying unlimited desires with limited resources.

Learner Outcomes

• Why is Canada viewed as having a mixed economy?
  This is a key question to be studied further.
• How has the emergence of labor unions impacted market economies? This requires research into the impact of labor unions on economics.
• What are some similarities and differences in the way governments in Canada and the United States intervene in the market economies? A comparison of economic intervention methods in both countries needs to be made.

Review

• Supply and Demand? This is a topic to be reviewed.
• Competition? Research competition in the marketplace is needed
• Principles of Market Economies Study the principles of market economies.

Canada's Economy - Mixed

• Founding principle: "Peace, order, and good government"
• The principle guides cooperation between individuals and the government.

Questions on Canada's Founding Principle

• What does "Peace, order, and good government" mean in relation to economics? How does this principle relate to economics needs to be understood.
• In what ways does Canada's government uphold this founding principle in the management of the economy? This question asks for a deeper look at how Canada's government operates its economy.

Canada's Economy - Mixed (Continued)

• Canada's economy blends public (government) ownership and private (individual) ownership.

• Both elements influence economic decision-making.

• The government primarily controls crucial industries.

• Examples: railways, postal services, and power companies.

• The government also supports Canadian culture with funding for radio, television, movies, and the arts.

Canadian and American Economies

• Use a provided link for further investigation of the timelines of Canadian and American economics.
• Research and compare government interventions such as health care, social programs, ownership, economic stimulation, environmental protection, competition laws, and consumer safety initiatives.
• Government intervention is different between the two countries. For example, how each country manages healthcare systems. Note that the differences will need to be noted in the research.
• Explore the examples given of intervention in both countries.

The New Deal

• The New Deal was an intervention in the US economy designed to save the country. Note there is an image that relates to it.

Jobs and the Economy

• Economic decision-making affects job availability and types. This is affected by supply and demand.
• Supply and demand influence job opportunities and challenges for Canadians.

Economics in the News

• This topic pertains to a separate assignment.

Should Canada's Government Help?:

• The question probes whether the Canadian government should manage employment.

Labour Unions

• Labour Union: An organization representing wage earners focused on wages and working conditions.
• Unions empower workers to act collectively.
• Collective bargaining: A key right established by unions, enabling negotiations between employers and groups of workers.

Labour Unions in Canada

• Canada has labor laws like the Canada Labour Code.
• These laws recognize workers' rights to form unions and specify bargaining procedures and standards for wages, hours, holidays, and safety.

Labour Unions Impact on Mixed Economies

• Unions influence a mixed economy in the same way they influence the capitalist market system, often lobbying governments for favorable economic policy.
• Governments can implement legislation that may not be favorable to labor unions.

Labour Unions Impact on Market Economies

• In a market economy, the government seldom regulates worker's conditions.
• In absence of intervention, it's up to employees and consumers to hold employers accountable.

Labour Union Actions

• Unions gather workers into groups.
• This pressure employers on wages, working hours, and workplace safety.
• Strikes: Workers refuse to work to exert pressure on employers.
• Strikes can expand if unions support one another.

The Winnipeg General Strike

• This historical event was a large-scale strike.

WGA Strike

• This refers to a strike by a professional organization.

Workers' Rights and Our Charter

• Collective bargaining rights are protected under our national Charter.
• For example, the Supreme Court of Canada ruled that collective bargaining is a protected freedom.

Critical Thinking Challenge

• Reflect on how the Supreme Court's ruling on collective bargaining aligns with Canada's political and economic values.

Cartoons

• See separate assignments for political and economic cartoons and the topic of labour unions.