Page 120 - THE ONTARIO CURRICULUM, GRADES 11 AND 12 | Canadian and World Studies

Grade 12, Workplace Preparation
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)
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)
D3. Responsibilities of Producers: analyse some responsibilities and business practices of, and some regulations affecting, producers (FOCUS ON: Stability and Variability; Economic Perspective)
THE ONTARIO CURRICULUM, GRADES 11 AND 12 | Canadian and World Studies
SPECIFIC EXPECTATIONS
D1. Market Fundamentals
FOCUS ON: Cause and Effect; Economic Perspective
By the end of this course, students will:
D1.1 analyse differences in the perspectives of producers and consumers in the market with respect to supply and demand (e.g., how a drought affecting wheat farmers in western Canada might affect producers and consumers; how producers influence demand; how demand and availability can affect prices; how producers are influenced by technology)
Sample questions: “How could you use a supply and demand graph to explain fluctuations in the price of gasoline?” “What role does scarcity play in the price of a product? What are some factors that can contribute to the scarcity of
a product or resource?” “How and why do producers try to create demand for products?” “How can consumers influence the market through boycotts or social media?” “How might a change in technology affect the supply of a product? Do you see this at work in your own life?”
D1.2 explain how and why producers and con- sumers participate in grey and black markets (e.g., to avoid taxes, fees, and/or regulations; to avoid paying for, or to pay less for, products or services; to maximize limited resources; to trade services without exchanging money), and analyse some consequences of participation in these
markets (e.g., copyright infringement results in lack of fair compensation to people in cultural industries; less tax revenue results in reduced funds available for government services; piracy or income tax evasion can result in fines; work done“under the table”is not regulated and may result in substandard work or safety risks; undocumented workers may not be fairly compensated and may not be protected by labour laws)
Sample questions: “What are some of the consequences of tax evasion for individuals and governments?” “Why is it important to
be documented on an employer’s payroll as opposed to being paid under the table?” “What is the economic impact of the illegal downloading of music or movies?”
D1.3 explain how various factors can influence consumers’ decisions, including their own decisions (e.g., price, income, availability of other similar products/services, status associated with products, personal values, loyalty programs, coupons, financing offered by retailers, sales promotions, availability of products online, advertising and promotion)
Sample questions: “Have you ever bought something on impulse because it was on sale?” “What impact do advertising and the entertain- ment industry have on consumer preferences? Have they influenced your own personal consumer choices?” “What factors might affect a person’s decision about whether to rent an apartment or buy a house or condo?” “Are you
D. MARKETS, CONSUMERS, AND PRODUCERS
OVERALL EXPECTATIONS
By the end of this course, students will:
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