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BBB4M - Chapter 4 Review Questions and Answers
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BBB4M - Chapter 4 Review Questions and Answers
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BBB4M - Chapter 4 Review Questionsand Answers
Compare/contrast democracy & autocracy - Answer-Compare - both political systems
found throughout the world.
Contrast - democracy elects its officials, autocracy has politicians that are not elected
and may serve for long periods of time.
What is the difference between an embassy, a high commission, and a general
consulate? - Answer-An embassy is located in capital cities and provides full services, a
high commission is an embassy in a Commonwealth country, a general consulate is
located in major cities but not capitals.
How can businesses benefit if governments make starting a business easier? - Answer-
Less start-up time for the businesses, less paperwork, less expensive.
Explain, using examples, why Canada is a mixed economy. - Answer-Canada has basic
social services such as universal health care and free education. It also allows business
owners, such as RIM and Bombardier, to keep their profits after taxes are paid. This
serves as incentive to run the business. The government also opens competing
businesses such as Canada Post and VIA Rail.
Explain how a recession in the United States can affect Canadian businesses. -
Answer-The United States will not purchase our exports which will have a dramatic
impact on our economy. The Americans will not travel to Canada because they cannot
afford it.
In what products does Canada specialize? - Answer-Canada specializes in forest
products, fish, minerals, oil, auto parts, BlackBerrys, and infrastructure.
What are the opportunity costs of a post-secondary education? - Answer-A student
could stay another year in high school, travel, or get a job.
Why are most democracies market economies? - Answer-They are market economies
because this supports the philosophy of free speech, and the right to self-determination.
A democracy is characterized by the economic opportunity for all of its citizens
Why are most autocracies command economies? - Answer-They are command
economies because this supports the philosophy of putting the interests of the entire
country ahead of the individual.
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