1. The Economic Continuum
USSR
Canada
USA
Planned
Economy
Mixed
Economy
Market
Economy

2. The Economic Continuum
USSR
Canada
USA
Planned
Economy
Mixed
Economy
Market
Economy

3. Public Good Public Good is what’s best for a society.
The economic system of a country is chosen based on values and tries to answer the question:
What is the best way to achieve public good?
There are 2 general worldviews that attempt to answer this:
Public Good and Cooperation
Public Good and Individualism

4. In other words… Cooperation
This worldview believes that individuals need to think of others and that a strong society happens when everyone is looked after.
Individualism
This worldview believes that individuals need to look after themselves and that a strong society happens when there are many strong individuals.

5. Cartoons – Draw a picture of the worldview
Cooperation
Individualism

6. Canada’s Economy
Founding principles: “peace, order and good government”
Canada’s economy is mixed because the government sometimes makes decisions on behalf of everyone.
The government makes sure the basic needs of the people are met but still allows for private business.

7. The U.S. Economy
Founding principle: “life, liberty and the pursuit of happiness”
The U.S. has a market economy because the emphasis is on the individual and the government has a small role in economic decision making.

8. Canada vs. USA Canada USA **REMEMBER THAT THIS IS A CONTINUUM AND THAT
THE POSITION ON THE CONTINUUM CAN SHIFT AND
CHANGE DEPENDING ON WHAT TYPE OF
GOVERNMENT IS IN POWER.

9. Canada vs. USA
Canada
USA
Mixed Economy
Zone
Market Economy
Zone

10. Canada vs. USA Canada USA Shift Left Shift Right Shift Left Shift

11. Historical Examples of Shift Left and Shift Right (use pages 206 to 208)
Canada
USA
Examples
Examples
Examples
Examples

12. Crown Corporations
Owned by Canada’s government to provide products and services to Canadians.
The reason the government creates these:
Provide essential services
Promote economic development
Support Culture and Identity
The USA does have some publicly owned corporations but not as many as Canada.

13. Examples of Crown Corporations
Petro Canada
Air Canada
CBC
RESPOND: To what extent should Crown Corporations play a role in Canada’s economy?

14. MINI-QUIZ!!! Every economic system is based on _______
What is public good?
Two basic values about how to achieve public good are:
Canada has a __________ economy.
USA has a ___________ economy.
What are 3 reasons why Canada’s government creates Crown Corporations?