Circle the best answer for each question. Use the space to note the reasoning or the source detail that decided it.
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What is a Crown corporation?
- a) A business owned by the royal family
- b) A private company that sells mostly to the government
- c) A charity that receives grants from the government
- d) A business owned by a federal or provincial government
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A line from an invented party's platform: "We will cut income taxes, reduce regulations on business and shrink the size of government." Where does this platform sit on the economic spectrum?
- a) On the right, favouring less government involvement
- b) On the left, favouring more government involvement
- c) Nowhere, because a tax promise cannot be placed
- d) In the centre, favouring equal public and private roles
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From an invented party's platform: "Every family deserves affordable child care, and we will pay for it by raising taxes on the largest corporations." Which value most clearly underlies this promise?
- a) Corporations should be free of taxes and regulation
- b) Government should use taxes to provide shared services
- c) Families should pay for services privately, as they choose
- d) Families should rely on charities instead of government
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A table compares doctor and hospital care. Canada: covered by public health insurance in every province. United States: mostly private insurance, with public programs for people 65 and older and for some people with low incomes. Which conclusion does the table best support?
- a) Canada's government has a bigger role in health care
- b) The United States has no public health insurance at all
- c) Canadians pay nothing at all for their health care
- d) Both countries run the same kind of health system
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A diagram shows a line with "Command economy" at one end and "Market economy" at the other. Country X has public health care, several Crown corporations and mostly private businesses. Where does Country X belong on the line?
- a) Between the two ends, as a mixed economy
- b) Off the line, since it has both public and private parts
- c) At the command end, because it has Crown corporations
- d) At the market end, because most businesses are private
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A headline: "Spring frost wipes out much of the Okanagan cherry crop; demand expected to stay strong." In a market economy, what will most likely happen to the price of cherries?
- a) It will fall, because fewer cherries are for sale in stores
- b) It will rise, because supply fell while demand held steady
- c) It will be set by the government until the next crop
- d) It will stay the same, because demand has not changed
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A headline: "Grocery workers' union wins 4% raise over two years after members vote to authorize a strike." Which conclusion about labour unions does this source best support?
- a) Unions are run by the government in a mixed economy
- b) Workers bargaining together can win terms one alone could not
- c) A strike vote means the workers have already stopped work
- d) Unions set the wages of every worker in the province by law
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A news report: "After thousands of shoppers signed a pledge to stop buying its jeans, a clothing company agreed to allow safety inspections at its overseas factories." What does this source show?
- a) Governments must approve how clothing companies are run
- b) Safety inspections are required by law in every country
- c) Individual shoppers have no influence over big companies
- d) Consumers acting together can change how a business acts
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Scarcity, the basic economic problem, means that
- a) some goods are rare, so they cost more than others
- b) governments print too little money for people's needs
- c) wants are unlimited but resources are limited
- d) a country has used up one of its natural resources
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Speaker 1: "Selling the government-owned power company would raise money, and competition would lower prices." Speaker 2: "Electricity is essential. It should be run for the public, not for shareholders." Which statement best describes the debate?
- a) Both agree the government should set every electricity price
- b) Speaker 1 favours a command economy; Speaker 2, a market one
- c) Speaker 1 favours privatization; Speaker 2, public ownership
- d) Speaker 1 favours nationalization; Speaker 2, selling it off