Canadian Demographics and Technology Trends
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Canadian Demographics and Technology Trends

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Questions and Answers

By what year is the Canadian population projected to reach 44 million?

  • 2050 (correct)
  • 2060
  • 2070
  • 2040

    • What is the average gross family income in Canada?

  • $72,000 (correct)
  • $80,000
  • $90,000
  • $60,000

    • What is the principal source of population growth in Canada as of now?

  • Immigration (correct)
  • Urban migration
  • Increased birth rates
  • Decreased mortality rates

    • What demographic trend is expected to affect niche markets in Canada by 2050?

    <p>Aging population and ethnic diversity</p> Signup and view all the answers

    Which of the following is a predicted advancement in technology?

    <p>3D technologies moving beyond entertainment</p> Signup and view all the answers

    What does the term 'Internet of Things' refer to?

    <p>Connectivity among all customers, homes, vehicles, appliances, and mobile devices</p> Signup and view all the answers

    What type of technologies are categorized as 'green technologies'?

    <p>Smart grid electricity services and consumer-generated energy</p> Signup and view all the answers

    How has technology impacted marketing organizations?

    <p>By creating the marketspace as an electronic exchange</p> Signup and view all the answers

    What is a significant trend among consumers regarding leisure activities?

    <p>They frequently multi-task with various forms of media.</p> Signup and view all the answers

    Which competition type is characterized by several companies offering similar products, often seen in agricultural markets?

    <p>Pure competition</p> Signup and view all the answers

    In which competition type do many sellers offer products that can substitute for one another?

    <p>Monopolistic competition</p> Signup and view all the answers

    Which of the following health statistics indicates a significant public health issue in North America?

    <p>Adult men obesity rates exceed 60%.</p> Signup and view all the answers

    What is a characteristic of an oligopoly market structure?

    <p>Few companies dominate the market and engage in non-price competition.</p> Signup and view all the answers

    What aspect of competition must companies consider when developing a marketing strategy?

    <p>All components driving competition including existing competition and substitutes.</p> Signup and view all the answers

    Which of the following describes a monopoly?

    <p>Only one company sells a specific product or service.</p> Signup and view all the answers

    What effect does marketing have in a monopolistic market?

    <p>Marketing has little impact due to regulation.</p> Signup and view all the answers

    What is a characteristic of Low-Income Countries?

    <p>High percentage of population in farming</p> Signup and view all the answers

    Which of the following examples represents an Upper-Middle-Income Country?

    <p>Brazil</p> Signup and view all the answers

    Which characteristic best describes High-Income Countries?

    <p>Service sector constituting over 50% of GNI</p> Signup and view all the answers

    What feature is common among Lower-Middle-Income Countries?

    <p>Rapidly expanding consumer markets</p> Signup and view all the answers

    What is a significant trend in Upper-Middle-Income Countries?

    <p>Rising wages and education levels</p> Signup and view all the answers

    What is a key factor that can lower prices in an industry?

    <p>New entrants into the market</p> Signup and view all the answers

    Which of the following factors contribute to the power of buyers?

    <p>Few buyers in the market</p> Signup and view all the answers

    In what type of industry growth scenario is competition typically more intense?

    <p>Slow-growth market</p> Signup and view all the answers

    What percentage of all businesses in Canada are classified as small businesses?

    <p>98%</p> Signup and view all the answers

    What type of companies primarily exist in the pure-play online competitors category?

    <p>Small, entrepreneurial start-ups</p> Signup and view all the answers

    What is one method airlines use to address high fixed costs?

    <p>Offering discounts for early reservations</p> Signup and view all the answers

    Which of the following is NOT considered a barrier to entry in an industry?

    <p>Employee satisfaction ratings</p> Signup and view all the answers

    What defines a small business in Canada?

    <p>Fewer than 100 employees</p> Signup and view all the answers

    Which economic system is characterized by private ownership of production resources and a market-driven allocation process?

    <p>Market Capitalism</p> Signup and view all the answers

    What role does the government play in a market capitalist system?

    <p>Promotes competition and ensures consumer protection</p> Signup and view all the answers

    Which of the following regions has a highly integrated economic environment today?

    <p>European Union and NAFTA/USMCA</p> Signup and view all the answers

    In a centrally planned socialist economy, which of the following statements is true?

    <p>The state decides what goods and services to produce</p> Signup and view all the answers

    Which economic system combines elements of both market capitalism and centrally planned socialism?

    <p>Market Socialism</p> Signup and view all the answers

    What is the significance of balance of payments statistics in global economies?

    <p>They highlight the trade balance and foreign exchange stability</p> Signup and view all the answers

    Which economic development category would most likely describe a country with high consumer spending and abundant goods?

    <p>Developed Economy</p> Signup and view all the answers

    Why is it challenging to classify real-world economies into pure economic systems?

    <p>Most countries use a combination of market forces and government control</p> Signup and view all the answers

    Study Notes

    Canadian Demographics

    • Canadian population is over 35 million and is expected to be 44 million by 2050
    • Median age will rise to almost 45 years by 2050
    • Due to a declining birth rate, population growth will largely rely on immigration
    • This will contribute to a more ethnically diverse population
    • Niche markets based on demographics and location will grow in importance in the future.

    Technological Advancements

    • Connectivity will grow to include all aspects of life and create the "Internet of Things"
    • Computers will develop five senses to generate intelligent data and personalized predictions
    • Green technologies such as smart grids, online energy management, and consumer-generated energy will be key
    • 3D technologies will expand beyond entertainment and into practical applications
    • Online capabilities have created the "marketspace," an information and communication-based exchange
    • Consumers have access to hundreds of shows and programs across multiple platforms
    • Consumers multi-task, often combining activities like watching TV with other tasks
    • Technology has heavily impacted marketing organizations

    Health and Wellness Concerns

    • Health concerns, especially related to children, are widespread
    • 60.1% of adult men and 44.2% of adult women in Canada are categorized as obese or overweight
    • Child obesity has doubled and teenage obesity has tripled in North America in the past 20 years

    Competitive Forces

    • Pure competition - similar products and services with a focus on distribution
    • Monopolistic competition - many sellers compete with substitutable products, consumers can easily switch brands based on price.
    • Oligopoly - a few companies dominate industry sales, non-price competition (product quality, distribution, promotion) are prioritized
    • Monopoly - one company controls the market, marketing plays a small role due to regulation
    • Companies must consider entry barriers, buyer and supplier power, existing competition, and substitution possibilities when developing marketing strategies
    • Entry - increased producers lead to lower prices and higher industry capacity
    • Powerful buyers - low switching costs, product is a significant portion their total costs, leads to increased pricing pressure
    • Existing competitors - slow growth markets result in more competitive pressure for market share, businesses with high fixed costs face pressure to utilize production capacity
    • Small businesses (under 100 employees) and medium businesses (100-500 employees) generate half of Canada's total gross domestic product
    • SMEs are responsible for creating a majority of new jobs
    • The majority of Canadian businesses are small businesses
    • Pure-play online competitors: exist solely in the online world
    • Many of these companies are small and entrepreneurial, often targeting niche markets

    Economic Systems

    • Four main types of economic systems are market capitalism, centrally planned socialism, centrally planned capitalism, and market socialism
    • Market Capitalism - individuals and firms allocate resources, production is privately owned, driven by consumer demand, government role is to promote competition and consumer protection
    • Centrally Planned Socialism - state holds broad powers to serve public interest, decides production quantities, minimal reliance on differentiation or advertising
    • Centrally Planned Capitalism and Market Socialism - in reality, no system truly exists in its "pure" form, both command and market features are used
    • Low-income countries - limited industrialization, high percentage of population in farming, high birth rates, low literacy rates, heavy reliance on foreign aid
    • Lower-middle-income countries - expanding consumer markets, cheap labor, mature labor-intensive industries
    • Upper-middle-income countries - rapid industrialization, less agriculture, rising wages, high literacy rates
    • High-income countries - sustained growth through innovation, service sector dominates, information processing and exchange are vital, knowledge over capital, focus on the future

    BRICS Nations

    • Brazil, Russia, India, China, and South Africa are collectively referred to as BRICS nations
    • These nations are discussed in various international business contexts and are important due to their economic growth and strategic importance

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    Description

    Explore the evolving demographics of Canada and the impact of technological advancements on society. Understand how population growth, driven by immigration, will shape the future and how innovations like the Internet of Things and green technologies are transforming our lives. This quiz delves into the intersection of demographics and technology in the Canadian context.

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