Page 111 - THE ONTARIO CURRICULUM, GRADES 11 AND 12 | Canadian and World Studies

Overall Expectations and Related Concepts of Economic Thinking
Big Ideas*
Framing Questions*
D. Markets, Consumers, and Producers
D1. Market Fundamentals: analyse, with reference to both producers and consumers, how a variety of factors affect markets (FOCUS ON: Cause and Effect; Economic Perspective)
There are many ways in which people can exchange goods and services .
Markets are affected by supply and demand as well as by the decisions of consumers and producers .
How does scarcity affect the price of a product?
How do producers create demand for their products?
How do consumers affect the economy?
What are the responsibilities of businesses? How do government rules influence those responsibilities?
D2. Rights and Responsibilities of Consumers: describe key rights and responsibilities of consumers, as well as some significant aspects of consumer behaviour, and analyse their significance (FOCUS ON: Economic Significance; Cause and Effect)
Consumers have rights and responsibilities .
Consumers’ choices can affect the economy and the environment .
D3. Responsibilities of Producers: analyse some responsibilities and business practices of, and some regulations affecting, producers (FOCUS ON: Stability and Variability; Economic Perspective)
Government regulations help enforce the responsibilities of producers .
E. Economies of Canadian Communities
E1. Economic Inequality: analyse factors that contribute to, and programs that are intended to address, economic inequality in Canada (FOCUS ON: Economic Significance; Stability and Variability)
Wealth is not distributed equally among Canadians .
What are the main causes of poverty in Canada?
How effective are government and business responses to economic inequality in Canada?
How does where you live affect your economic choices?
What are the economic realities in your community? What could be done to improve them?
E2. Economic Variations among Canadian Communities: explain some of the causes and consequences of economic variations in different regions of Canada (FOCUS ON: Cause and Effect; Economic Perspective)
There are regional economic variations in Canada .
E3. The Local Economy: analyse some key aspects of the economy of their local community (FOCUS ON: Economic Significance; Stability and Variability)
Various factors can affect the economic health of the local community .
OVERVIEW
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Making Personal Economic Choices
CIC4E