Government and Economics Flashcards

1
Q

What is an incentive?

A

Something that motivates or encourages a person to do something.

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2
Q

What is a subsidy?

A

Financial assistance that the government provides to cover part of the cost of an item.

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3
Q

What are progressive taxes?

A

Types of taxes in which people with higher incomes pay a larger percentage of their income than those with lower incomes.

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4
Q

What are regressive taxes?

A

Type of taxes in which people with lower and middle income pay a larger percentage of their income than the rich.

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5
Q

What are flat taxes?

A

A type of tax system in which everyone pays the same percentage of their income.

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6
Q

What is property tax?

A

Yearly taxation of owned land and buildings, is typically based on a small percentage of the total value of the property.

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7
Q

What are crown corporations?

A

Companies created and owned by the government of a country or province.

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8
Q

What is privatization?

A

The action of selling companies to investors and turning them into private companies.

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9
Q

What is supply?

A

Supply refers to how much of an item is available in the market.

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10
Q

What is demand?

A

Demand refers to the quantity of an item that people want and the extent to which they desire it.

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11
Q

What is elastic demand?

A

Refers to demand for products that are not necessary, or can easily be replaced.

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12
Q

What is inelastic demand?

A

Refers to demand for products that are necessary and can not be easily replaced.

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13
Q

What are constituents?

A

A constituent is a member of a riding who is represented by elected officials.

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14
Q

What is a riding?

A

Geographical divisions based on the size or population that elects a representative.

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15
Q

What is a nomination?

A

Choosing a candidate to run for office.

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16
Q

What is first-past-the-post?

A

A system used in an election where the candidate who has the most votes wins.

17
Q

What is right and left-wing?

A

Political ideologies that oppose each other. Right-wing ideologies like to prioritize the individual and want to keep traditions.

Left-wing ideologies like to prioritize the group and care about equality.

18
Q

What is Liberalism?

A

Liberalism emphasizes individual rights and freedoms. It supports a capitalist free market with little government intervention. Supports representative democracy as well.

19
Q

What is conservativism?

A

Conservativism emphasizes tradition, order and stability in society. Supports a free market with little government intervention. Wants to keep existing business and opposes rapid changes.

20
Q

What is fascism?

A

The nation and its success comes before individual success. Supports mixed economy where private corporations make profit but, the state gives orders. Advocates for a totalitarian state.

21
Q

What is communism?

A

Promotes social equality. No inequalities based on class, race, gender, or other factors. Supports the economy controlled by the government. Wants the working class to hold political power.

22
Q

What are ideologies?

A

A set of fundamental beliefs and values about society and human nature that are often related to politics.

23
Q

What is legislative?

A

The legislative branch is the part of government that is involved in passing new laws, taxes, and budgets.

24
Q

What is judicial?

A

The judicial branch is responsible for interpreting laws and making sure that new laws follow the Constitution.

25
Q

What is executive?

A

The executive branch is in charge of all the departments and organizations part of the government and has the power to take action.

26
Q

What is a constitution?

A

A constitution provides the basic rules and principles that govern a country.

27
Q

What is the Charter of Rights and Freedoms?

A

It guarantees certain rights and freedoms for all Canadian citizens and residents, limiting the actions that the government can take.

28
Q

What are Checks and Balances?

A

The idea of splitting political power between different parts of government to prevent arbitrary and unfair decisions.

29
Q

What is the Power of the Purse?

A

The ability of the House of Commons to control government spending and taxation.

30
Q

What is a majority government?

A

A government formed by a party that wins more than half of the seats in the House of Commons.

31
Q

What is a minority government?

A

A government where the ruling party has fewer than half of the seats in the House of Commons.

32
Q

What is reciprocity?

A

Important part of Indigenous government - relationships go both ways.

33
Q

What are relationships? (Indigenous)

A

The connection between indigenous governments.

34
Q

What are hereditary chiefs?

A

Jobs and roles that are passed on from parents to child.

35
Q

What is the Indian Act/Status Indian?

A

The Indian Act was a policy to assimilate Indigenous people.

Status Indian - A person who is a member of an Indian/Indigenous group. You get benefits according to your group but cannot vote or own property.

36
Q

What is the Royal Proclamation of 1763?

A

The royal proclamation was a legal document that stated that only the government could buy land from Indigenous nations.