Module 1: Economic Systems in Canada and the United States
Section 1: Market and Mixed Economies
Lesson 3 - page 2
Government Involvement in the Economy
Government Involvement in the Economy
Government involvement in an economy can vary greatly from nation to nation. The values of society and its government are reflected in how much the government is involved. In the mixed economy of Canada, there is a combination of private ownership and government involvement. Canada’s economic system is in the middle of an economic continuum. In the market economy of the United States, government is less involved. This is represented by the position of the United States economy on the economic continuum.
Governments get involved in the economy to ensure that public good is achieved. Government funds goods and services that it feels benefits everyone in society for the public good, such as education and health care. Depending on the values of the nation, a government can have a small role or a very large role in making these economic decisions.
public good: the view of what is best for a group, community, or nation
Governments get involved in the economy to ensure that public good is achieved. Government funds goods and services that it feels benefits everyone in society for the public good, such as education and health care. Depending on the values of the nation, a government can have a small role or a very large role in making these economic decisions.
public good: the view of what is best for a group, community, or nation
Read
Read page 205 of the textbook and determine how government may be involved in ensuring that the public good is achieved. As you continue through the lesson, consider how Canada and the United States provide for the public good.
Use the Government Involvement in the Economy handout to begin your note taking for this lesson. Identify how the Canadian and United States governments are involved in the economy. In Canada, the government is quite involved in the economy. In this mixed economy, the government values being involved in the economy to ensure its success.
The government makes many laws and policies that reflect how the economy should operate. Government in Canada also collects taxes to assist in paying the costs of the public services it provides.
Read page 205 of the textbook and determine how government may be involved in ensuring that the public good is achieved. As you continue through the lesson, consider how Canada and the United States provide for the public good.
Use the Government Involvement in the Economy handout to begin your note taking for this lesson. Identify how the Canadian and United States governments are involved in the economy. In Canada, the government is quite involved in the economy. In this mixed economy, the government values being involved in the economy to ensure its success.
The government makes many laws and policies that reflect how the economy should operate. Government in Canada also collects taxes to assist in paying the costs of the public services it provides.
Read
The values and attitudes of Canada today are reflected in some important historical moments. Explore “Canada’s Economy” on page 206 of your textbook to view some examples that reflect these values and attitudes.
You should have noted that where a government sits on the economic continuum depends on which political party is in power. When the Liberal Party is in power, as from 1963 to 1968, the economic decisions shift left, and when the Conservative Party is in power, as from 1984 to 1993, the decisions shift right along the continuum. This is a result of political parties having different economic values.
Return to the “Government Involvement in the Economy” handout that you saved to your Portfolio. Then summarize the examples on page 206 of your textbook. Read “What’s a Crown corporation?” on page 207. As you read this page, consider whether you agree or disagree that governments in Canada should own Crown corporations. Place your thoughts in your Government Involvement in the Economy handout.
shift left: on an economic continuum, there is more government involvement in the economy
shift right: on an economic continuum, there is less government involvement in the economy
The values and attitudes of Canada today are reflected in some important historical moments. Explore “Canada’s Economy” on page 206 of your textbook to view some examples that reflect these values and attitudes.
You should have noted that where a government sits on the economic continuum depends on which political party is in power. When the Liberal Party is in power, as from 1963 to 1968, the economic decisions shift left, and when the Conservative Party is in power, as from 1984 to 1993, the decisions shift right along the continuum. This is a result of political parties having different economic values.
Return to the “Government Involvement in the Economy” handout that you saved to your Portfolio. Then summarize the examples on page 206 of your textbook. Read “What’s a Crown corporation?” on page 207. As you read this page, consider whether you agree or disagree that governments in Canada should own Crown corporations. Place your thoughts in your Government Involvement in the Economy handout.
shift left: on an economic continuum, there is more government involvement in the economy
shift right: on an economic continuum, there is less government involvement in the economy