Among the Factors Noted in the Text as Affecting Economic

question 30

Multiple Choice

Among the factors noted in the text as affecting economic inequality in Canada are:

• A) technology, the minimum wage, the decline of unions, and the increasing use of temporary workers
• B) technology, tax loopholes for corporations, increasing part-time employment, and discrimination against women and visible minorities
• C) the minimum wage, the decline of unions, discrimination against women, and the existence of a welfare system
• D) employment insurance, the outsourcing of production, the increasing use of temporary workers, and tax loopholes for corporations

Interpret economic data and graphs related to resource extraction costs and market conditions.

Understand the economic principles underlying fishery and forestry management and conservation.

Analyze the impact of property rights on the management and conservation of natural resources.

Describe the market dynamics and economic implications of the fishing industry, including concepts like ITQs and TAC.

---

Definitions:

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.

Demand Curve

A visual chart that illustrates how the quantity of a product or service desired by buyers varies with its price.

Unitary Elasticity

A situation in economics where a change in the price of a good or service results in a proportional change in the quantity demanded or supplied.

Sandwich Shop

A food establishment that specializes in selling sandwiches and often other types of lunch food and beverages.