Chap 4 Key Terms Flashcards
Depression
a long period of severe economic and social hardship, massive unemployment, and suffering
Supply & demand
the quantity of a product that is available and the market’s desire for that product; the price of the product varies based on supply and demand
Prosperity
in the economic cycle, the period of economic growth and expansion
Recovery
in the economic cycle, the period following a recession during which the value of goods and services rises
On-to-Ottowa trek
a 1935 rail trip from Vancouver to Ottawa (stopped at Regina) by unemployed men to protest conditions at employment relief camps
Regina riot
a riot that occurred when police attempted to clear On-to-Ottawa trekkers from a stadium in Regina
New deal
a series of programs, such as social assistance for the aged and unem-ployed, introduced by U.S. president Roosevelt in the 1930s to deal with the Depression
Lassiez-faire
an economic condition in which industry is free of government intervention
Welfare state
a state in which the government actively looks after the well-being of its citizens
Co-operative commonwealth federation (CCF)
Canada’s first socialist party founded in the Prairies in 1932; advocated government control of the economy
Capitalism
an economic system in which the production and distribution of goods are owned privately or by shareholders in corporations who have invested their money in the hope of making a profit
Regina manifesto
platform of the Co-operative Commonwealth Federation party; it supported public ownership of industry and social programs to assist those in need
Social credit party
political party founded in Western Canada; opposed to capitalism
Union nationale
nationalist French
Canadian political party led by Maurice Duplessis
Quebec nationalism
a movement advocating for the protection and development of Québécois culture and language
Equalization payments
a federal transfer of funds from richer to poorer provinces
