Learning Targets:
Targets for knowledge, skills, and behaviours below are possible targets. It is not expected that all will be covered by a single Teaching Unit. Teachers can select their learning targets using the Teaching Units provided (to the right), adaptations of these Teaching Units, or Units/Lesson Plans they develop on their own.
KNOW:
- The basic economic questions every society must answer – what to produce, how to produce, and how to distribute
- How Canada’s economy answers the basic questions
- The role of key sectors of Canada’s economy–households, business, government, financial, international
- Factors affecting the level of production and employment in an economy
- Needs and wants change over time leading to new products and services being produced
- The exchange of products and services take place in markets and at prices set by the decisions of the buyers and sellers
- Factors that can affect prices in the economy
- Why interest rates may change
- Why countries engage in trade and how both countries can be better off after trade
- Examples of Canadian imports and exports
- The concept of “globalization” and how it can affect countries differently
- The concepts of “trade protection” and “freer trade”
- Examples of trade issues and challenges
BE ABLE TO:
- Debate the pros and cons of freer trade
- Debate the pros and cons of “globalization”
ACTION/BEHAVIOUR:
- Consider, assess, and discuss the advantages and disadvantages of globalization as events and changes occur over time
- Consider how production and trade can affect peoples’ lives and the environment
