Yearly Notes - Noor Mouhanna

Yearly notes Goals for people to achieve and create goals,self reflection is necessary to achieve them. To look back and consider subjects and tasks that people want to achieve and grow. Schedule Monday - I get ready for school - math - arabic - science- economics -...

Yearly notes Goals for people to achieve and create goals,self reflection is necessary to achieve them. To look back and consider subjects and tasks that people want to achieve and grow. Schedule Monday - I get ready for school - math - arabic - science- economics - drama - I stay on my phone for a bit - Eat lunch - Sleep at 10-11 Tuesday - I wake up to get ready for school - Arabic - chem - econ - drama - eng - I come home i eat lunch - I stay on my phone - Study - Sleep 10-11 Wednesday - I wake up to get ready for school - science- econ - drama - math- arabic - I come home i eat lunch - I stay on my phone - Shower - Study - Sleep 10-11 Thursday - I wake up to get ready for school - econ - drama - math- arabic - science - I come home i eat lunch - I stay on my phone - Go to off ice - Shower - Study - Eat dinner - Sleep around 10-11 Friday - I wake up to get ready for school (depends if I decided on going or not) - Drama - math- arabic - science- econ - Come home from school - Go out with my friends  - Eat outside - Shower once I get back - Sleep around 2am Saturday - Eat breakfast - Study for any tests that I might have the upcoming week - Spend the rest of my day with my friends‘ - Go home and tell my parents about my week - Sleep around 1am Sunday - Wake up around 10:30 - Eat breakfast - Go to training from 12pm-5pm - Come home order wingstop - Shower while my food is getting delivered - Eat my food - Study or revise for anything I don’t understand - Sleep by 10 pm grit : Grit is the combination of passion and perseverance toward long-term goals. It means sticking with something you love, even when it gets tough. People with grit are determined and willing to work hard, learn from failures, and keep going despite challenges. This quality is often more important than talent alone, as it helps individuals achieve their goals over time. Procrastination: is the act of delaying a certain task that you are supposed to complete despite knowing that there could be some possible consequences. Work life balance Refers to balancing your daily life within work and your typical no work life. You can balance your work-life balance by setting a schedule and taking breaks. You should prioritize that family is also very important and there are some days where you need to spend time with your family rather than spending time doing work all day. It is important to acknowledge that life is very stressful especially due to work but that does not mean that you can not manage your time to suit your preferences. Wednesday: (Needs and Wants) Needs" and "wants" are concepts often used in economics, psychology, and everyday life to describe different types of desires and motivations that drive human behavior. Needs: Definition: Needs are essential requirements for survival and well-being. They are fundamental to human existence and must be met for an individual to function properly both physically and mentally. Examples: Physiological Needs: Food, water, shelter, clothing, and sleep. Safety Needs: Security, health, and protection from physical harm. Social Needs: Love, belongingness, and social interaction. Esteem Needs: Respect, self-esteem, and recognition. Self-Actualization: The need to achieve one’s full potential and pursue personal growth. Wants: Definition: Wants are desires for specific products or services that are not essential for survival but can enhance quality of life or provide pleasure. Wants are shaped by individual preferences, societal influences, and culture. Examples: Material Wants: Luxury cars, designer clothing, high-end electronics. Experiential Wants: Travel, dining out, and entertainment. Aspirational Wants: Education, professional success, and personal development opportunities. Key Differences: Essential vs. Non-Essential: Needs are essential for basic survival, while wants are not necessary for survival but improve life quality. Priority: Needs take precedence over wants. If someone is hungry (a need), they will prioritize finding food over wanting to go to a fancy restaurant. Satisfaction: Meeting needs results in basic satisfaction and stability, whereas fulfilling wants can lead to happiness or contentment but is often more variable and subjective. Conclusion:Understanding the difference between needs and wants is crucial for effective decision-making, budgeting, and prioritising in both personal and economic contexts. In marketing and business, companies often aim to meet consumers' needs while appealing to their wants to drive sales. Activity 1: Good News - Wants are the need or desire for goods and/ or services. - Physical wants are those wants or needs that are necessary. - Physical wants are often referred to as needs - Psychological wants are wants for those things that are not essential to sustain life. - In a sophisticated society like our own, the distribution between a physical want and a psychological want is not always clear. - The physical want, the need for clothing for warmth, has become partially a psychological want, the need to fit into society. - Resources are those things used to produce goods and services. Resources include human resources, the skills and efforts people use in production: capital resources, such as factories and machinery; and natural resources, such as land and forests. - Scarcity is the fundamental fact of economic life; there is a limited amount of resources that can be used to produce a limited amount of goods and services to meet unlimited human wants. - Scarcity does exist. Scarcity refers to the economic problem of having seemingly unlimited human wants in a world of limited resources. In practice, no country can completely eliminate scarcity because resources such as land, labor, and capital are limited, and human desires are infinite. However, there are some countries that might appear to have an abundance of certain resources, or effective systems in place to manage scarcity. 1. Qatar: With a high GDP per capita and extensive oil and natural gas reserves, Qatar has significant wealth and can provide for the needs of its residents to a substantial degree. 2. United Arab Emirates: Similar to Qatar, the UAE has a wealth of natural resources, especially oil and gas, and has invested heavily in diversifying its economy to improve living standards. 3. Norway: With a robust economy driven by its oil and gas sector, Norway has a high standard of living and a well-managed welfare system, effectively reducing economic scarcity for its citizens. 4. Singapore: While lacking in natural resources, Singapore has managed its limited land and resources effectively through innovation, technology, and efficient services, creating a high standard of living and availability of goods and services. 5. Switzerland: Known for its strong economy, high quality of life, and effective public services, Switzerland manages scarcity well through careful economic planning and a focus on innovation and sustainability. It’s important to note that even in these countries, there may be forms of scarcity present, such as social inequalities or environmental concerns. Thus, while they may mitigate some aspects of scarcity, they do not completely eliminate it. Distribution of Goods in Germany 1. Production Stage Manufacturers: Germany is known for its strong manufacturing sector, particularly in automotive (e.g., companies like Volkswagen and BMW), machinery, and pharmaceuticals. Many products are produced in well-equipped factories in regions like Bavaria and Baden-Württemberg. 2. Transportation Stage Logistics Network: Germany has a highly developed transportation infrastructure, including an extensive network of roads, railways, and airports. The country is strategically located in Europe, making it a central hub for transporting goods across borders. 3. Warehousing Distribution Centers: Germany features numerous state-of-the-art warehouses and distribution centers, often located near major transportation hubs. These centers enable efficient management of inventory and rapid shipping to retailers and consumers. Third-Party Logistics (3PL): Companies specializing in logistics services manage warehousing and distribution for various manufacturers, enhancing efficiency and scalability.  1. Data Scientist ○ Field: Technology/Analytics Description: Data scientists analyze complex data sets to inform business decisions. They use statistical methods, algorithms, and machine learning techniques to extract insights from structured and unstructured data. 2. Neurosurgeon ○ Field: Medicine/Healthcare Description: A neurosurgeon specializes in diagnosing and performing surgical procedures on the brain, spinal cord, and other parts of the nervous system. This role requires extensive training and a deep understanding of human anatomy. 3. Marine Biologist ○ Field: Environmental Science/Aquatic Biology Description: Marine biologists study ocean ecosystems, marine organisms, and the effects of human activity on marine life. Their work often involves field research, laboratory studies, and conservation efforts. 4. Artificial Intelligence Engineer ○ Field: Technology/Engineering Description: AI engineers design and develop AI models and systems. They work with machine learning, natural language processing, and neural networks to create applications that can perform tasks typically requiring human intelligence.  Anesthesiologist ○ Field: Medicine/Healthcare Description: Anesthesiologists specialize in administering anesthesia and managing patients' pain before, during, and after surgical procedures. They are responsible for monitoring vital signs and ensuring patient safety during surgery. These specialized jobs require specific training, education, and skills, making them distinct within their respective fields. 1. Automotive Manufacturing: ○ Canada has a significant automotive industry, particularly in provinces like Ontario. Large manufacturers such as Ford, General Motors, and Toyota benefit from economies of scale by producing vehicles in high volumes. As production increases, fixed costs like research and development, equipment, and factory overhead can be spread over a larger number of units, ultimately lowering the average cost per vehicle. 2. Farming and Agriculture: ○ The agricultural sector in Canada, especially in provinces like Alberta and Saskatchewan, often sees economies of scale through large-scale farming operations. Bigger farms can utilize advanced machinery and technology, such as precision agriculture tools, to increase efficiency and crop yields. Additionally, they can negotiate better prices for bulk purchases of seeds, fertilizers, and equipment, reducing their overall costs as they expand their production. 3. Telecommunications: ○ Major telecom companies in Canada, such as Bell, Rogers, and Telus, benefit from economies of scale as they expand their networks and customer bases. By spreading the costs of infrastructure development, maintenance, and technology upgrades over a larger subscriber base, these companies can lower their average costs per customer. This allows them to offer competitive pricing and invest in better services and technologies. The circular flow model for Brazil illustrates the interactions among four key sectors: households, businesses, the government, and the foreign sector. Key Sectors: 1. Households: Composed of consumers who provide labor and receive income (wages, rents, dividends). 2. Businesses: Engage in agriculture, manufacturing, and services, producing goods and employing labor from households while selling both domestically and internationally. 3. Government: Collects taxes from households and businesses, provides public services, regulates the economy, and engages in welfare and economic development. 4. Foreign Sector: Involves international trade; Brazil exports items like soybeans and iron ore, generating income, while imports (machinery and electronics) result in money flowing out. Economic Flows: Households supply labor to businesses and receive income in return. Businesses pay households, allowing them to purchase goods and services. Taxes from both households and businesses finance public services and welfare programs provided by the government. The foreign sector impacts the economy through exports and imports. Economic Activity Cycle: Household spending sustains domestic consumption, while businesses invest in response to consumer demand. Government expenditure supports infrastructure and social services, which stabilize the economy. The balance of trade affects foreign exchange reserves, with a notable emphasis on agricultural exports. Conclusion: This model reveals Brazil's economic structure and sector interdependencies, helping policymakers navigate challenges such as trade policies and economic fluctuations to devise effective strategies. Chapter 2: National Decision Making Chapter 2: As individuals, we are faced with the problem of scarcity and are obliged to weigh the opportunity coast of each decision we make. The problem of scarcity is not limited to individuals; all societies face it. Because a society’s collective wants exceed it's available resources, a society must use it's resources wisely. In doing so, each society must answer three major questions. 1. What are going to produce? There are many different goods and services that we could produce. What are we going to select and in what quantities? How much and which products will we produce? How much bread and how much butter? How many airline flights and how many houses? How many flights today, to which locations, and how many next year? 2. How is it to be produced? Since our resources are limited relative to our wants, it follows that how we produce the goods and services we want is very important. Clearly, the more we can produce with a given amount of resources, the better we are able to meet the problem of scarcity. In considering how goods are to be produced, therefore, we must also examine by whom the goods are to be produced, and with what resources. Private enterprises in Canada Canadian Tire Corporation: ○ Founded in 1922, Canadian Tire is a well-known retail company that offers a variety of products, including automotive, hardware, sports, and leisure products. Canadian Tire operates several retail formats, including Canadian Tire stores, as well as Mark's, Sport Chek, and Party City. 2. Loblaw Companies Limited: ○ Loblaw is one of Canada's largest food retailers, operating supermarkets and discount stores under various banners such as Loblaws, Superstore, and No Frills. It also owns and operates pharmacies and health and beauty retailers and is a leader in grocery and consumer products. 3. Shaw Communications: ○ Shaw Communications is a Canadian telecommunications company that provides internet, television, and phone services to residential and business customers. It operates primarily in Western Canada and is known for its cable television and internet services. 4. Suncor Energy: ○ Suncor is an integrated energy company specializing in the development of oil sands and production of renewable energy. Headquartered in Calgary, Suncor is involved in the extraction, production, refining, and marketing of petroleum products. 5. Goldcorp Inc. (Now part of Newmont Corporation): ○ Previously a standalone entity, Goldcorp was one of the world's largest gold producers and operated several mines in Canada and internationally. In 2019, it was acquired by Newmont Corporation, but its operations in Canada continue to be significant in the mining sector. These enterprises reflect the diversity of Canada's private sector, representing retail, telecommunications, energy, and mining industries. Goods: 1. Natural Resources: Canada is one of the largest producers of natural resources, including: ○ Oil and Gas: Alberta is a major hub for oil sands production. ○ Forestry Products: Canada is a leading exporter of wood products, including lumber and paper. 2. Agricultural Products: The country's vast agricultural sector produces a variety of goods, such as: ○ Grain and Cereals: Canada is known for wheat and barley, being one of the top exporters globally. 3. Minerals and Metals: Canada is rich in minerals, producing: ○ Nickel, Copper, and Zinc: The country is a significant global supplier of these essential metals. 4. Manufactured Goods: Canada has a strong manufacturing sector that produces: ○ Automobiles and Aerospace Products: Ontario is particularly known for automobile manufacturing, while Quebec is recognized for aerospace. 5. Fish and Seafood: With its extensive coastlines and access to the Atlantic and Pacific Oceans, Canada is known for: ○ Lobster, Salmon, and Shellfish: These are vital exports, especially from provinces like British Columbia and the Maritime provinces. Services: 1. Healthcare Services: Canada offers a publicly funded healthcare system that provides essential medical services to residents. 2. Education Services: The country is home to many world-renowned universities and colleges, catering to both domestic and international students. 3. Tourism Services: Canada has a thriving tourism industry, attracting visitors to its natural landscapes, cities, and cultural heritage. 4. Financial Services: Canada has a robust banking system and offers a wide range of financial services, including investment banking, insurance, and wealth management. 5. Technology and IT Services: The tech sector in Canada is rapidly growing, with services ranging from software development to artificial intelligence and cybersecurity consulting. Traditional economy in Canada refers to the economic systems that are based on customs, practices, and beliefs, often characterized by subsistence farming, hunting, gathering, and fishing, typically prevalent among Indigenous peoples and some rural communities. In these economies, resources are shared within the community, and trade often occurs through barter rather than monetary transactions. Skills and knowledge are passed down through generations, and there is a strong connection to the land and natural resources. Indigenous groups in Canada, such as the Inuit, Métis, and First Nations, have maintained traditional economic practices, relying on the land for resources, which is integral to their cultural and social identities. These practices often include seasonal hunting, fishing, and gathering, adapting their methods to sustainable means of using the environment. However, traditional economies face challenges due to modernization, globalization, and the impacts of colonialism, pushing some communities to blend traditional practices with contemporary economic systems. Despite these challenges, many Indigenous communities strive to revitalize and preserve their traditional economic practices, maintaining their cultural heritage while navigating modern economic landscapes. Canada's Natural Resources 1. Mineral Resources: ○ Metals: Canada is a leading producer of various metals, including gold, silver, nickel, copper, and zinc. The country has large mines, particularly in regions like Ontario, Quebec, and British Columbia. ○ Uranium: Canada is one of the world's largest producers of uranium, primarily from the Athabasca Basin in Saskatchewan. 2. Energy Resources: ○ Oil and Gas: Canada has significant reserves of crude oil, particularly in the Alberta oil sands, as well as natural gas reserves across the country. ○ Hydroelectric Power: Canada has vast freshwater resources and is one of the largest producers of hydroelectricity in the world, with major facilities in Quebec and British Columbia. ○ Renewable Energy: In addition to hydroelectricity, Canada is investing in wind, solar, and biomass energy. 3. Forestry: ○ Canada has extensive forest lands, primarily in British Columbia, Quebec, and Ontario. It is one of the largest producers of timber products, including lumber, pulp, and paper. 4. Agricultural Resources: ○ Canada produces a variety of agricultural products, including wheat, canola, barley, and pulses. The Prairies region is particularly known for its grain production. 5. Freshwater Resources: ○ Canada contains about 20% of the world's freshwater supply, with numerous lakes and rivers. This resource is crucial for consumption, agriculture, and hydroelectric generation.  6. Fisheries: ○ Canada has a rich marine ecosystem, with significant commercial fishing, particularly on the East Coast (Newfoundland and Labrador) and the West Coast (British Columbia). Key species include cod, salmon, and lobster. Canada is rich in natural resources, being a top global producer of metals like gold, silver, nickel, copper, and zinc, primarily found in Ontario, Quebec, and British Columbia. It is a leading uranium producer, notably from the Athabasca Basin in Saskatchewan. The country has large crude oil reserves, particularly in the Alberta oil sands, and significant natural gas resources. Canada excels in hydroelectric power generation due to its vast freshwater supply and is increasingly investing in renewable energy sources, such as wind and solar. Its extensive forests support substantial timber production, while its agriculture sector grows key crops like wheat, canola, and barley, especially in the Prairie provinces. Additionally, Canada holds approximately 20% of the world’s freshwater and has a rich marine ecosystem that sustains commercial fishing on its East and West Coasts. Chapter 1 Notes: Introduction to Economics 1. Wants and Needs Wants: The desire for goods and/or services. Goods: Tangible products that are visible and touchable. Services: Intangible offerings that cannot be physically touched. Types of Wants: ○ Physical Wants: Basic needs necessary for sustaining human life. Examples: Air, water, food, clothing, shelter. Often referred to as needs because they are essential for survival. ○ Psychological Wants: Desires for items or experiences that enhance life but are not essential. Examples: Luxury items, exotic vacations, and entertainment products. Distinction: The line between physical and psychological wants may be blurred, as individual circumstances and perspectives influence their classification. 2. Resources Definition: Resources are the inputs used to produce goods and services. Types of Resources: ○ Human Resources: Skills, labor, and efforts that individuals contribute to production. ○ Capital Resources: Man-made tools and facilities used in production, such as factories and machinery.  ○ Natural Resources: Raw materials obtained from nature, like land, forests, water, minerals. Resource Constraints: Resources vary significantly among individuals and societies, often leading to an insufficient supply of resources to meet all wants. 3. Scarcity Definition: Scarcity refers to the limited availability of resources to meet unlimited human wants. Significance in Economics: ○ Scarcity is a fundamental principle of economics; it assures that resources are finite while human desires can grow indefinitely. ○ This gap leads to the ongoing challenge of fulfilling wants, making scarcity an inescapable reality. 4. Decision Making Impact of Scarcity: ○ As wants exceed available resources, individuals and societies are compelled to make choices. ○ The need to choose arises from the necessity to prioritize wants based on available resources. 5. Opportunity Cost Definition: Opportunity cost is the value of the next best alternative foregone when a choice is made. Implications: ○ Each decision carries opportunity costs; every purchase represents an opportunity lost to invest in something else. ○ Understanding opportunity costs helps consumers and producers make informed economic decisions. 6. Fundamentals of Economics Definition of Economics: Economics is the study of human behavior in allocating scarce resources to satisfy various wants. Branches of Economics: ○ Microeconomics: Focuses on individual agents (households, firms) and their decision-making processes. Examines how these agents interact in specific markets and how they respond to changes in supply and demand. ○ Macroeconomics: Analyzes the economy as a whole. Studies large-scale economic factors, including growth, inflation, unemployment, and national policies. Conclusion Understanding the interplay between wants, resources, scarcity, decision-making, and the branches of economics lays the groundwork for studying how societies manage and allocate resources to improve overall welfare. The principles of opportunity cost and the distinctions between microeconomics and macroeconomics provide valuable insights into individual and collective economic behaviors. Questions for the quiz - What is scarcity? - Explain the relationship between physical wants and physical needs? - Give 5 examples of goods and services? - Notes chapter 2 As individuals, we are faced with the problem of scarcity and have to apply opportunity cost to decisions that we decide to make. All societies face the problem of scarcity. Resources can be limited, so society has to use its resources properly. Three major questions: 1. What are we going to produce? In Canada, production decisions are largely influenced by market demand. Canadian businesses and farmers respond to consumer preferences, demand for goods, and changing trends. For instance, Canada produces a variety of goods, including natural resources (like oil, minerals, and timber), agricultural products (like wheat, canola, and fish), and manufactured products (like automobiles and aerospace technology). 2. How is it to be produced? Technology and Innovation: Canadian producers often utilize advanced technology in agriculture, mining, and manufacturing to improve efficiency and reduce costs. For example, precision agriculture techniques allow farmers to maximize yields and minimize waste. Sustainability Practices: There is a significant emphasis on sustainable production methods in Canada. Industries are increasingly adopting practices that reduce environmental impacts, such as reforestation in timber production and sustainable fishing quotas in the fisheries sector. Labor: Canada has a skilled workforce supported by a robust education system. Decisions about how to produce are influenced by labor availability and costs, which can vary across regions and sectors. 3. Who receives how much? Market System: In Canada, goods and services are distributed through a mixed-market economy where prices are determined by supply and demand. Higher-income individuals can generally afford to purchase more goods and services, while lower-income individuals may face challenges in accessing the same level of consumption. Social Programs: The Canadian government implements social programs aimed at addressing income inequality and ensuring that basic needs are met. This includes healthcare (which is largely publicly funded), education, unemployment benefits, and social assistance programs that help lower-income families. Indigenous Communities: The distribution of resources and opportunities among Indigenous communities can be a complex issue, often influenced by  land treaties, legal rights, and government policies aimed at reconciliation. Some communities have taken control of their resource management and production to provide for their members. How the three major questions are answered - Each society has developed its own way of answering these questions. Society has developed its own economic system. Pure traditional Economy - Tradition influences our economic activity. For certain occasions and celebrations, we buy certain products. These are part of our traditions. In a pure traditional economy, the tradition of the society helps answer the question: what will we produce? A pure traditional economy discourages change or growth. This society provides economic, political, and social stability. Pure Command economy - Goods and services are provided by governments or, through the command aspect of the economic system. In a pure command economy, government, or some other controlling body provides the answers for the three questions Here are three examples of the distribution of goods within the United States of America: 1. Supermarket Chains: - Major supermarket chains like Kroger, Whole Foods, and Safeway distribute a wide variety of goods, including groceries, household items, and personal care products. These chains typically have extensive distribution networks involving warehouses and regional distribution centers, which ensure that products are stocked in their numerous retail locations across the country. 2. E-commerce Delivery Services: - Companies like Amazon,eBay, and Instacart have revolutionized the distribution of goods by providing online shopping platforms. Through a combination of fulfillment centers, regional distribution hubs, and partnerships with local delivery services, these e-commerce platforms can deliver a vast range of products directly to consumers' homes, often within short timeframes. 3. Wholesalers and Distributors: - Businesses such as Sysco (in the food service sector) and Grainger (in industrial supplies) act as wholesalers that distribute goods to various retailers, restaurants, and other businesses. They purchase items in bulk from manufacturers and handle the logistics of getting those goods to smaller suppliers, ensuring a consistent supply of products to end users. Here are five different specialization jobs across various fields: 1. **Data Scientist**  - **Field:** Information Technology / Data Analysis - **Specialization:** Utilizing statistical analysis, machine learning, and data visualisation techniques to interpret complex data sets and provide actionable insights for business decisions. 2. **Clinical Psychologist** - **Field:** Healthcare / Mental Health - **Specialization:** Diagnosing and treating mental health disorders through therapy and counseling. Clinical psychologists often conduct psychological assessments and develop treatment plans. 3. **Artificial Intelligence Engineer** - **Field:** Computer Science / Technology - **Specialization:** Designing and developing AI models and algorithms, implementing machine learning techniques, and optimizing systems for predictive analytics in various applications. 4. **Environmental Scientist** - **Field:** Environmental Science / Conservation - **Specialization:** Studying ecological systems, conducting research on environmental issues, and developing strategies for conservation, pollution control, and sustainable resource management. 5. **Financial Analyst** - **Field:** Finance / Business - **Specialization:** Analyzing financial data, preparing reports on economic and business trends, and providing investment recommendations to help businesses make informed financial decisions. 3 examples of economies of scale in canada 1. Manufacturing: Large manufacturing firms often benefit significantly from economies of scale due to bulk purchasing of materials, more efficient use of equipment, and streamlined production processes. Canada's automobile industry, for example, has leveraged economies of scale to reduce costs and increase competitiveness, particularly in Ontario, where many automobile assembly plants are located. 2. Agriculture: Canadian farmers can achieve economies of scale by operating larger farms that allow for the use of modern machinery and technology. This leads to enhanced productivity and efficiency, with larger operations often able to produce goods at a lower per-unit cost. 3. Retail: Large retail chains, such as Walmart and Costco, benefit from economies of scale through bulk purchasing, which reduces costs, and through effective distribution networks. These retailers can offer lower prices than smaller competitors, which can lead to higher sales volumes. 24-27: The performance of the Soviet economy: It was reasonable to expect that the Soviet economy would grow rapidly. For one thing, the economy usually operated at full employment. Second, Soviet economic planners chose economic growth over consumer goods as being objective and devoted a large proportion of total output to the production of goods to be used in further production, such as machines and factors. Third, the Soviet Union was playing ‘catch up’. It is easier and cheaper to copy techniques from more economically advanced countries than to develop them yourself. Failure of coordination: As we have seen, a body of planners had to coordinate production, consumption, investment and trade throughout the Soviet Union. It became impossible to achieve this with a high degree of efficiency. For example, in the 1980s there were shortages of soap and toilet paper while black-and-white TV sets were already available. In 1989 a significant part of the abundant harvest rotted on the farmers because of a shortage of storage and transportation facilities. Inadequate Quality Control: Control planners can monitor the numbers of units produced by any factory and reward those that meet the quota and punish those who fail to do so. For many years, quotas were expressed in quantitative terms so many meters of cloth or tonnes of nails. A constant problem with the Soviet Union was the production of inappropriate or poor-quality products. Factory managers were only interested in meeting their assigned quotas. Once their products left their factories, they became someone else's problem. Lack Of Incentives: In market economics, differences in pay provide incentives for workers to move on from job to job and the possibility of getting fired provides an incentive to work hard. While paychecks in the U.S.S.R were guaranteed, what workers could buy with them continued to be disappointing or often unavailable. In the soviet union, the social contract between workers and the government was “We pretend we work, and the government pretends to pay us.” Pollution: Meeting production quotas in command economies becomes the overriding objective, often to the exclusion of other concerns, including the environment. Soviet Union on a disastrous scale. One glaring example has been the diversion of waters flowing into the Aral Sea for cotton irrigation. As a result, the sea level has dropped more than 12 meters since 1960. This along with the use of fertilizers and pesticides has polluted the waters, wiped out the fishing industry, destroyed wildlife, and increased human diseases. The reform of the system: The continuing stagnation of the economy in the 1980s led the Soviet leader. Mikhail Gorbachev, to institute a number of reforms to restructure the economy. This restructuring was called perestroika. Gorbachev promoted a reduction in the central control of the economy in favor of an increase in individual and local management control and accountabilities. These ideas were incorporated in the Law of States Enterprises in 1987. Laws to encourage the establishment of family farms remained largely on paper. These first reforms of the Gorbackey years did not challenge socialism in the U.S.S.R or state ownership of productive resources. By 1990, however, reforms began to call for the large-scale privatization of industry and agriculture and the movement to a market economy. By 1990-91, the economy was in serious trouble. Inflation, growing budget deficits , declining output, and widespread shortage undermined the authority of the central government. The growing assertiveness and increasing nationalist sentiment of the republics combined with the severe economic problems faced by the Soviet Union to bring about its collapse. By the end of 1991, the Soviet Union was no more. It was replaced by a loose association of independent republics, each with its own agenda. The Soviet command system had expired. What economic concepts or terms are implied or stated? Monopoly, command economy, market economy, bankruptcy, money, and inflation What is your evaluation of the effectiveness of the cartoon? The cartoon is highly effective in expressing the point of view that Communism and its command economies are doomed to failure. Page 28-31: As society changes the importance we place on each social change, the importance we place on each social goal is also likely to reflect these changes. Thus, at different times we may reach different decisions on an issue. Six years plus a long day to buy a car in U.S.S.R: MOSCOW, Ivanov was one of the lucky ones, a war veteran, a recently retired pilot for the Soviet national airline Aeroflot, a man well placed for quick delivery. ONLY SIX YEARS! Imagine, that was all, just in 6 years between the day he applied for a new car and the morning when the little white postcard dropped through the mail slot, inviting him to the shop and pick up his new Zhiguli model 2014. Ivanov had asked for a 2017. But after 6 years, who was going to quibble over a model number that was off by just 1 digit. Ivanov had to be there at 9am the next day, with a certified cheque for 8,900 rubles. Less than 6 hours remained before the banks closed. The race was on. But Ivanov did it. With cheque in hand, he and Natasha set off at 8:30 am in a taxi for the shop. Chapter 3 Page 40-44 Time-series graphs: One of the most useful graphs in economics is the time-series graph. A time-series graph represents time (for example, weeks, months, or even years) on the horizontal axis, and the variable we are interested in (such as stock market prices or unemployment) on the vertical axis. On the horizontal axis is shown time, the years from 1920 to 1995, and on the vertical axis is shown the unemployment rate —- the variables we are interested in. Resources and Production: In Canada, our ability to produce the goods and services we need depends on the quality and the quantity of productive resources. Productive resources are made up of labor or human resources (that is, workers of all kinds); natural resources or land (including forests, soil, and minerals); capital resources (such as tools, factories, and machines); and the entrepreneur (or self-employment business owner). All four resources are combined in production, The more numerous our productive resources and the problem of scarcity. Scarcity, as we have seen, arises because our wants are greater than our resources. The entrepreneur as a productive resources can be included as part of labor or human resources. Natural Resources: Natural resources or land are all the resources that occur in nature that have value and may be used in production. These resources include minerals, forests, water, and fish. Land is considered by economists to be one of the factors of production. Natural Resources include all the “free gifts of nature”. These “free gifts” are the land in the city and on the farm, minerals in the earth, trees in natural forests, natural lakes, rivers and streams, the fish in these waters, and wild animals. The amount of arable land may be very great. Canada is the second largest country in the world, measuring almost 10 million km. Even though only about 7 percent of the land is used for agriculture. Canada has vast areas of ferrile low-lying land in the Prairies, the Great Lakes, and the St. Lawrence lowlands. More than a third of Canada’s royal land area is forested. Forestry is a major industry in British Columbia, Ontario, Quebec, and Atlantic Canada. Canada is one the world leading producers of newsprint, pulp and paper, and lumber. Commercial fishing in Canada dates back to the fifteenth century. The pacific and atlantic oceans and the inland lakes and rivers have yielded abundant catches in the past. However, overfishing off the Atlantic coast of Canada has pushed cod fishing to the verge of commercial extinction. In 1992, Canada’s Minister of Fisheries ordered a two-year suspension on cod fishing and the slashing of quotas for other species of fish as well. The vast Canadian Shield contains a wealth of minerals. Canada has a huge reserves of coal, oil, and natural gas. Interpreting Statistics: In economics, as in sports, much use is made of statistics. Often these statistics are presented in the form of tables and charts. Examine table 3.4. Which agriculture product provided the most income for Canadian farmers between 1970 and 1993? Table 3.5 shows the production of zine, nickel, lead, and copper during selected years between 1970 and 1993. As you can see, The production of nickel fell down between 1970 and 1980 by more than a third. Between 1980 and 1990, however, the trend was reversed and the production increased. Between 1990 and 1993, nickel production again declined. Figures 3.6 to 3.8 on pages 43 and 44 show the production of other selected minerals in Canada between 1970-1993. 2 sentences that I found interesting from this article: - invested 10 years’ worth of savings in his restaurant, AP Kitchen Delights, on Khalifa Street. I have committed a significant portion of my financial resources, specifically the savings I accumulated over a decade, toward launching and operating my restaurant, AP Kitchen Delights, located on Khalifa Street. This investment reflects my strong belief in the potential success of the venture and my desire to engage in the culinary business. By investing such a substantial amount, I am confident in the restaurant's concept and the viability of the targeted location. My goal is to build a successful dining establishment that can attract customers and generate profits over time.  - If you want to have money, work hard. I'm doing that so that sooner or later, money will follow. I believe the relationship between hard work and financial success is crucial. To attain wealth or financial stability, I understand that I must be willing to put in effort and dedication in my endeavors, whether it’s through a job, entrepreneurship, or other means of generating income. - "This winter, Abu Dhabi is set to welcome the region’s first-ever indoor vertical strawberry farm, spanning a whopping 7,500sqm." Abu Dhabi is set to launch the region's first indoor vertical strawberry farm this winter, spanning 7,500 square meters. The farm will employ innovative vertical farming techniques to produce strawberries in a controlled environment, aiming for higher yields and efficient resource use. This initiative supports sustainability efforts and enhances local food production, providing fresh produce to the community. - “Placing vertical farms near urban centres lowers transportation emissions, CO2 footprint, and increases food freshness.” The page discusses the benefits of vertical farms in urban settings, noting their effectiveness in reducing transportation emissions and carbon footprints through shorter delivery distances. This approach leads to decreased fuel consumption and greenhouse gas emissions, aiding climate change efforts. It also enables quicker delivery of fresh, nutritious produce. Overall, urban vertical farming supports environmental sustainability, improves food quality, and fosters sustainable practices in food production and distribution. - "Quinoa has immense potential if given the correct research and investment as a potential way of growing local food that is nutritious and environmentally friendly,” he told those in attendance. Quinoa is recognized as a nutritious and eco-friendly food source that can enhance food systems through focused research and investment. Its rich nutrient profile and potential for sustainable farming align with goals of food security and environmental sustainability. Investing in quinoa research could increase food diversity and help combat the environmental issues linked to conventional agriculture. - “The success of these trials paves the way for continuous innovation and collaboration to achieve secure food systems.” – Tarifa Al Zaabi In my view, the success of these trials opens up new opportunities for ongoing innovation and collaboration in order to establish secure food systems. It highlights the importance of working together and being open to new ideas as we strive to improve our food production and distribution methods. This progress is essential for ensuring that everyone has access to safe and nutritious food. https://www.thenationalnews.com/business/money/2024/08/13/my-abu-dhabi-salar y-i-earn-dh10000-per-month-running-a-restaurant/ https://www.timeoutabudhabi.com/news/vertical-farm-strawberry-abu-dhabi https://www.thenationalnews.com/future/technology/2024/09/24/uae-food-securit y-could-get- 1. Mineral Resources Metals: Canada is one of the world's largest producers of various metals including gold, silver, copper, nickel, and aluminum. The country has significant mining operations in provinces like Quebec, Ontario, and British Columbia. Industrial Minerals: These include potash, gypsum, and limestone, which are essential for various industrial processes. 2. Energy Resources  Oil and Gas: Canada has vast oil sands in Alberta, making it one of the largest producers of crude oil. The country also has significant natural gas reserves, particularly in British Columbia and Alberta. Hydroelectric Power: Canada is the second-largest producer of hydroelectric power in the world, with major hydroelectric facilities located in Quebec and British Columbia. Renewable Energy: In addition to hydropower, Canada is investing in wind, solar, and biomass energy sources. 3. Forestry Resources Canada has extensive forested areas, particularly in British Columbia, Quebec, and Ontario. The forestry sector is crucial for the economy, providing timber, pulp, and paper products. 4. Freshwater Resources Canada is home to a significant portion of the world's freshwater resources. The Great Lakes and many rivers and lakes across the country provide ample water for drinking, agriculture, and industry. 5. Agricultural Land The Prairie provinces (Alberta, Saskatchewan, and Manitoba) are known for their rich agricultural land, producing wheat, barley, canola, and other grains. Ontario and Quebec also have important agricultural sectors, growing fruits, vegetables, and dairy products. 6. Biodiversity and Ecosystem Services Canada’s diverse ecosystems offer habitat for wildlife, plants, and contribute to ecological services such as carbon sequestration and soil fertility. As of my last update in October 2023, Canada's GDP (Gross Domestic Product) for 2022 was approximately CAD 2.2 trillion. For the most accurate and current figures, including any updates for 2023, please refer to reliable financial news sources or government economic reports. Canada is recognized for its strong commitment to human rights and equality, supported by several key factors: 1. Charter of Rights and Freedoms: The 1982 Canadian Constitution guarantees fundamental freedoms and equality rights, serving as a vital protector of human rights in the country. 2. Diversity and Multiculturalism: Canada embraces a multicultural identity, with policies designed to support the rights of various cultural and religious minority groups, fostering an inclusive society. 3. Indigenous Rights: The country is dedicated to acknowledging and protecting the rights of Indigenous peoples, including land rights and cultural heritage, while working towards reconciliation. 4. Strong Legal Framework: Laws like the Canadian Human Rights Act and provincial codes prohibit discrimination based on various grounds, reinforcing the protection of human rights. 5. Active Civil Society: A robust civil society, including many NGOs and advocacy groups, plays a crucial role in promoting and defending human rights, raising awareness, and holding the government accountable. 1. United States-Mexico-Canada Agreement (USMCA): Replacing NAFTA, this agreement (known as CUSMA in Canada) promotes fair trade and economic growth across Canada, the U.S., and Mexico, addressing tariffs, labor standards, and environmental protections. 2. Comprehensive Economic and Trade Agreement (CETA): This free trade deal with the European Union aims to reduce trade barriers, enhance cooperation, and promote investment in goods, services, and procurement. 3. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): Renegotiated after the U.S. withdrawal from the original TPP, this agreement includes Canada and 10  Asia-Pacific countries, focusing on reducing tariffs and promoting trade. 4. Canada-United Kingdom Trade Continuity Agreement: Post-Brexit, this agreement strengthens trade ties with the UK, ensuring continued preferential access for Canadian businesses. 5. Canada-Chile Free Trade Agreement: Established in 1997, this was one of Canada's first agreements with a Latin American country, eliminating tariffs and promoting cooperation in investment and services. 1. Food Safety: The 2008 Listeriosis outbreak linked to contaminated deli meats revealed shortcomings in inspections by the Canadian Food Inspection Agency (CFIA), resulting in fatalities and highlighting the need for improved food safety measures. 2. Construction: The 2018 collapse of a pedestrian bridge in Toronto raised concerns about the quality of construction materials and adherence to safety regulations, emphasizing the necessity for stricter oversight in the construction industry. 3. Pharmaceuticals: Defective medications due to poor quality control in manufacturing have led to recalls and public scrutiny, illustrating failures to meet Health Canada's health guidelines. 4. Automotive Industry: Numerous recalls of Canadian-made vehicles for safety issues, such as faulty brakes or airbags, reflect weaknesses in quality assurance processes at the manufacturing level. 5. Health Care Equipment: Inadequate quality checks on medical devices have resulted in the use of defective tools and implants, causing patient harm and legal repercussions for manufacturers. 1. Natural Resources: Canada is a leading producer of oil (notably from Alberta's oil sands) and natural gas, along with various minerals like gold, copper, and nickel. 2. Agriculture: The country is a major exporter of grains such as wheat, canola, and barley, especially from the Prairie provinces. Dairy and poultry farming are also significant, particularly in Quebec and Ontario. 3. Manufacturing: The automotive sector is strong, with substantial vehicle and parts production in Ontario. Canada is also a key player in aerospace manufacturing, housing notable companies like Bombardier. 4. Forestry: Canada ranks among the top producers of timber and wood products, with the industry focused in British Columbia, Quebec, and Ontario. 5. Technology and Telecommunications: This rapidly expanding sector includes software development and IT services, concentrated in major cities like Toronto, Vancouver, and Montreal.  P r i v a t e P r o p e r t y : 1. Single-Family Homes: Standalone residences for one family, providing privacy with varying sizes and styles. 2. Condominiums (Condos): Individual units in larger complexes with shared amenities, managed by homeowner associations. 3. Townhouses: Multi-story homes sharing walls with neighbors, blending features of single-family homes and apartments. 4. Luxury Estates: Expansive, high-end properties with added amenities like pools, often found in exclusive neighborhoods. 5. Vacation Homes: Properties for recreational use in desirable locations, suitable for personal enjoyment or rental income.