ECONOMICS

CONTINUED..
MS. GARCHA
Shape of the day Learning Intentions

- Notes - I will be able to explain the

- Quick Activity 4 economic sectors
- Task - I will develop a detailed
understanding of the
economic region that I am
assigned
PRODUCERS ALWAYS NEED TO ASK THEMSELVES & CONSIDER HOW
TO BEST USE THE RESOURCES THAT ARE AVAILABLE TO THEM:

1. What is to be produced?
2. How is it to be produced?
3. For whom is it to be produced?
WHAT IS TO BE PRODUCED?

A farmer must decide whether to grow wheat or

canola. A provincial government with a limited
budget must choose between increasing funding
for health care or education.
HOW IS IT TO BE PRODUCED?

A farmer needs to consider what technology is

needed to produce and process the crop. A
provincial government needs to determine whether
additional funding for education will come from tax
revenue or from cutting funding somewhere else.
FOR WHOM IS IT TO BE PRODUCED?

A farmer needs to determine if the crops will be

sold within Canada or be exported. If a provincial
government decides to increase the education
budget, it has to determine where the funds should
go to elementary and high schools or to post-
secondary education.
 QUESTIONS ABOUT RESOURCES

Companies, organizations, and business owners must also consider laws &
regulations, which can affect business decisions
Ex. Environmental regulations. Lehigh- Hansons cement plan in Delta is BCs 3 rd
largest emitter of greenhouse cases. How will enviro concerns affect the
companys decisions? Tougher enviro regulations drive up costs.
When a farmer decides which crop to grow, or a govt decides which service to
fund, both must assess available resources Again, scarcity is an issue
If there is not enough of 1 type of resource to produce a good/ service, steps
must be taken to increase the resource, or that choice is eliminated
Resources classified into 3 categories: Land resources, Human
resources, and Capital resources
 RESOURCE TYPES PLEASE COPY DOWN

Land resources: All natural resources that may be used to produce

goods and services, such as land, water, fish, forests, and minerals
Human resources: People to produce goods and services, including
fishers, forestry workers, store owners, educators, research scientists
Capital resources: Money & human- made goods, which are used to
produce other goods and services, such as transportation infrastructure,
technology, and research and educational facilities
 ECONOMIC SECTORS PLEASE COPY DOWN

Economic activities are classified into 4 sectors: primary, secondary,

tertiary, or quaternary
Most Canadians are employed in the tertiary sector but Canada is
described as having a resource- based economy (an econ that relies on
the extraction and/ or primary processing of raw materials)
Primary activities such as forestry, fishing, and farming account for the
greatest percentage of the national income
ORGANIZE INTO GROUPS OF 4 IN YOUR
GROUP
Person 1: Responsible for defining what the primary sector is
using examples
Person 2: Responsible for defining what the secondary sector is
using examples
Person 3: Responsible for defining what the tertiary sector is
using examples
Person 4: Responsible for defining what the quaternary sector is
using examples
PRIMARY SECTOR

The primary sector involves making direct use of

natural resources. This includes agriculture,
forestry, fishing and mining.
Ex. Collecting, harvesting, or extracting resources.
On p. 287 the men are packing salmon for export
as fishing industry is a primary activity
 SECONDARY SECTOR

Secondary sector refers to the processing or manufacturing of

goods.
Includes light and heavy industrial manufacturers of finished
goods and products from raw materials. Businesses that make
up the secondary sector of industry often require substantial
machinery to operate, and they create waste that can
contribute to environmental pollution.
TERTIARY SECTOR

Involve services. Retail industry is major part of

this sector.
Banks, schools, restaurants, etc.
 THE
Creation and QUATERNARY SECTOR
transfer of ideas and information
The quaternary sector of the economy is a way to describe a
knowledge-based part of the economy - which typically includes
services such as information technology, information-generation and
-sharing, media, and research and development, as well as
knowledge-based services like consultation, education,
financialadvice
TASK! CANADAS ECONOMIC REGIONS

You will be divided into groups & responsible for presenting a region
Group 1) The Atlantic Region
Group 2) the Great Lakes- St. Lawrence Region
Group 3) The Shield Region
Group 4) The North Region
Group 5) The Prairie Region
TASK

Ensure you have an outline

 GROUP 1) THE ATLANTIC REGION
GROUP 2) THE GREAT LAKES- ST. LAWRENCE REGION
GROUP 3) THE SHIELD REGION
GROUP 4) THE NORTH REGION
GROUP 5) THE PRAIRIE REGION

Each group must answer the following questions:

1) Which provinces are included in your economic region?
2) What natural resources are present in the region?
3) Discuss the economic development that took place in the past
4) Discuss the economic conditions of the region today
5) Be sure to include information on economic challenges & come up with
potential solutions
6) Provide a visual & a way to present this information to the class
Ex. A poster or a PowerPoint
Presentation should not be longer than 7 minutes & will happen tomorrow!!!