Economics Review Questions: Social Studies Nine
Print off a version of the questions here:
1. Explain the meaning of economics? and what is the global economy? 141
2. How are goods and services connected to economy? 141
3. When price is low what happens to demand and supply? When price is high what happens to demand and supply? 144
4. What is the first question you should ask yourself before starting a business? (think supply and demand?)
5. When keeping track of business finances or personal what are two things you need to add up? 148
6. What is the difference between consumer credit and investment credit? 150
7. How does compound interest work, and why did Albert Einstein say it was the 8th wonder of the world? 151
8. If starting a business would taking out a five year loan or a ten year cost you more in the long run? 151
9. What is the first step to growing a business or company? 182
10. What does GDP stand for? Is it the only indication of quality of life? 183-185
11. Do the Atlantic Canadian provinces have a higher or lower GDP than the rest of Canada?
12. Why is outmigration and brain drain a problem in the Atlantic provinces?
13. Which countries of the world are industrializing and why is it important Canada develope good economic relationships with them?
14. If economic sanctions are placed on a country like North Korea, what impact does it have on the countries economy?
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