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Understanding Income Inequality and Economic Concepts: A Comprehensive Guide

This guide explores key concepts related to income inequality, including factors that affect wages and salaries, the ten primary causes of income inequality, and the role of government anti-poverty programs. It delves into the impact of labor unions, collective bargaining, and the importance of Canada's Economic Action Plan. Readers will also learn about personal spending, advertising techniques, and the pros and cons of credit cards for consumers and merchants. Additionally, review questions provide an interactive way to reinforce learning on these essential topics.

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Understanding Income Inequality and Economic Concepts: A Comprehensive Guide

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Presentation Transcript

  1. Quiz: Tuesday, May 29 1. Income Inequality: • “Income Distribution” Class Notes • Example: What factors affect wages & salaries?, 10 Causes of Income Inequality, etc. • Government Anti-Poverty Programs 2. Labour Unions: • Notes & Terminology (example: collective bargaining) 3. Canada’s Economic Action Plan (worksheet) 4. Personal Spending: • Advertising and Credit Cards • Textbook Questions p. 200-201

  2. Review Questions: • 1. Name the 5 factors that affect wages & salaries • 2. What is income inequality? Explain! • 3. What are the 10 causes of Income Inequality? • 4. Define union, collective bargaining, arbitration, and strike • 5. In the video, “Killer Coca Cola” what is happening in Colombia?

  3. 6. Be able to identify the 7 anti-poverty programs in Canada • example: employment insurance 7. What are the 4 key priorities of Canada’s Economic Action Plan? 8. Name & Explain the different types of advertising techniques. 9. Name 2 advantages and disadvantages of credit cards to the CONSUMER and to the MERCHANT 10. What is the Canadian Association of Consumers?

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