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Introduction
Chapter 2 – Economy and DevelopmentLMAC
Mr. Wilson
Activity 1 – Economic Vocabulary
Gross Income:▪ Your income before any deductions
Net Income: your income after any deductions
Activity 1 – Economic Vocabulary Capital:
Can be money or capital goods that can be used as an investment or for a return
Disparity: Refers to an inequality between the
distribution of economic assets or income. Can be applied to Countries as well!
Gross Domestic Product: How much a country or a region PRODUCES
before any deductions (a good measure of economic growth.)
Activity 1 – Economic Vocabulary
Corporation: A publicly owned business (i.e.: run by
the shareholders!)Supply:
Goods and services, the inventory which a business provides
Demand: How badly the public wants/needs a
specific product (e.g.: gasoline)
Activity 1 – Economic Vocanulary
Budget: A prediction of how much a single
person, or a large corporation, will spend over a certain period of time.
Unemployment: A percentage of the number of active
workers who are not working.
Activity 1 – Economic Vocabulary
The Primary Sector
Activity 1 – Economic Vocabulary
Secondary Sector:
Includes all businesses that are involved in the manufacturing or manipulating of raw good and materials into specific products
Activity 1 – Economic Vocabulary
Tertiary Sector:
Includes all businesses that are involved in the selling or shipping of products
Activity 1 – Economic Vocabulary
Imports: Goods that are brought into a country.
Exports: Goods that are shipped out of a country
“Most imports come from outside the country…”
- George W. Bush
Activity 1 – BIG Questions
Please answer the following in your Common-Place books using full sentences (each one will require a short paragraph!)
These are not easy questions – they require some thought, maybe even (gasp!) some research.
My suggestion is you talk to someone with more experienced (i.e. your parents) before completing your answers.
Activity 1 – BIG Questions
How do economic decisions have an impact on our development as a society? Give examples! [C-1]
What do you think has the biggest impact on decisions and explain why? [C-1]
As a citizen, how do these decisions eventually effect YOU? [C-3]
Now onto the lecture…
World GDP - 2007
The Economic Landscape of Quebec:
Quebec’s average GDP…?
What kind of an economy is it?
Where does the economy focus?
What is the Labour force like?
Which issues are a big concern? (Conclusion)
Break-down of Canada’s Sectors – by population
Geographic Distribution - Quebec
1. The Resource Regions
2. The Central Regions
3. The National Capital Region
4. Montreal and Laval
Business Break-Down - Quebec Private (owners) vs. Public (shareholders)
vs. Crown businesses. 75% of Quebec’s population works in the
PRIVATE SECTOR. 57% of all job opportunities are with LARGE
CORPORATIONS – however, private businesses tend to keep their money in the province.
Conclusion: Small/medium sized businesses make up most of Quebec’s economy.
Private vs. Public businesses
PRIVATE (majority owned by Alan Bouchard)
PublicShares are traded on the open market – special deals given to employees
Crown Corporation?
“Crown” is an old meaning - from where?
Large Corporations vs. Small Medium businesses
MEDIUM SMALL
Quebec’s Exports
Quebec exports over 53% of everything it produces. 2/3 of those exports go to foreign countries, the
last third goes to other Provinces.
30% of Quebec’s economy is based on these exports.
The majority of these exports are from the Secondary Sector: Metal processing, transportation equipment,
paper, industrial and commercial machinery, chemical products (oil!)
Employment vs. Unemployment In 2008 Quebec’s Unemployment =
6.7% Since 2009 = 7.7% Layoffs and financial uncertainty.
Credit and Inflation Provincial average – there is a lot of
disparity between the different areas!
What conclusions can you make from this
document?
Canada’s Inflation predictions - 2008
Social Sciences can be deadly…
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