Transcript Exam Review
Exam Review What is a need? A need is something that is essential for human survival. Some examples are: food, water, shelter. What is a want? A want is something that is not essential for human survival, but is an “extra” that can improve our quality of life. For example, cars, television and video games can be considered wants. What should be satisfied first: needs or wants? It is important for the needs of humans to be satisfied first before the wants. For example, when creating a budget, it is essential that a family can afford to satisfy their needs (food, housing, bills) before money is spent on other things (video games, movies, etc). What makes a good quality of life? Quality of life means different things to different people. In general, quality of life is measured by the ability for people to satisfy their own needs. For example, if someone was able to get a job, pay for food, shelter and essential living expenses, quality of life would be considered to be good. Another opinion is that quality of life is measured by the type of services available. For example, if education, medical, police, and other essential services are available then that creates a good quality of life. Others believe that quality of life is dependant on the things that they own. In other words, if they have a nice car, big house and lots of entertainment, then they have a good quality of life. Quality of life is a personal opinion. You must think about the things that you believe impact our world in a positive way and form your own outlook. 1. In general, do Canadians have a good “Quality of Life”? Why or why not? What is an income? Income is the money that a person receives through their job, or other sources. In what ways can people earn an income? Some ways that people receive income are: job wages, business profits, owning property, inheritances, and social assistance programs. Why are some people’s incomes different than others? People’s incomes vary due to education levels, job positions, the economy or issues (medical, family, etc) that affect their ability to work. What are some reasons that people may be unable to earn an income? Illness Family commitments Low education level No jobs available due to a slow economy Why is it important to take care of those who cannot meet their immediate needs? It is important to provide assistance to those who cannot meet their immediate needs because it is our mission as God’s children to be a global citizen. Being a global citizen means transforming our world in a positive way and making it a better place for all people. Helping others is one way that we can begin to transform our world. Name 4 Economic Resources. Natural Resources (oil, water, potash, etc) Labor (workers) Capital (resources used to produce goods like money, computers tools) Goods (things that we all need and want like clothes, groceries, etc) Services (hospitals, schools, police, firefighters) How has the oil industry affected the incomes of people in Alberta? The oil industry increased the incomes for people in Alberta. The need for workers in the oil fields caused many people to move to Alberta. With the increase in population, more capital, goods and services were required. This demanded many jobs which and resulted in incomes to increase as well. How might opening a diamond mine in Nunavut affect job opportunities there? If a diamond mine opened up in Nunavut, it would require more workers. This would create more job opportunities in Nunavut. What is GDP? GDP stands for Gross Domestic Product Why do some people use it to measure a countries quality of life? GDP is sometimes used to measure a countries quality of life because it can give a general idea of what the average income for a person would be. If the average income is high then there is a greater chance that people are successfully meeting their needs, and have a good quality of life. If the average income is low, then there is a chance that many people are not able to meet their immediate needs.