Economics Review - Canada

Canada would have a high standard of living.

Canada would have a high unemployment rate.

Canada would not allow an increase in immigration.

Canada would need to increase funding to its education programs.

increase funding to public schools

build more factories

increase the amount of oil exports

reach a trade agreement with the United States

Provide updated technology and tools

Provide less workers

Provide less money

Give no extra resources

Keeping old taxi cabs

Keeping old machinery in order to save

Purchasing new computer software for the business

Training workers new skills for the job

Mechanics who work for a business owned by an individual.

People who operate a school.

A person who runs a government-owned iron mine.

A person who uses her money to start a business.

Command

Market

Mixed

Traditional

Businesses decide what to produce on the basis of market conditions

Consumers decide through their behavior in the marketplace

Central government planning decides what will be produced

Supply and demand control the production and price