Vocabulary | Canadian Economics | General Economics |
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What is Planned economy
An economic system that is government controlled
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What is cooperation
A founding principal of Canada
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What is Land, Labour, Capital
Three factors of production
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What is Mixed economy
An economic system combining private and public enterprise.
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What is Education, Health care and pensions
Three recources paid for by the government of Canada
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What is labor laws
Laws that protect workers and business owners.
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What is Market economy
An economic system in which economic decisions and the pricing of goods and services are guided solely by citizens and businesses
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What is price fixing
An adjustment of prices that is not allowed in Canada
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What is a grant
When a government gives citizens money to produce or do something
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What is Public Good
What is best for society as a whole
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What is Supply and Demand
A theory explaining the interaction between the supply of a resource and the demand for that resource
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What is a crown corporation
A government owned business that provides essential services to the public.
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What is Collective Bargaining
A process of negotiations between employers and a group of employees aimed at reaching agreements to regulate working conditions
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What is a mixed economy
An economic system that sits on the middle of a continuum
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What is individualism
A founding principal of the United States
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