Lesson 16- The Role of Government
Learning Goals: By the end of this lesson you will be able to
- The great Depression
- Explain the different roles that government performs in the Canadian economy
- Evaluate the effectiveness of government programs designed to increase the economic security and welfare of Canadians
- Identify the most important sources of local, provincial, and federal government revenues and classify government spending by purpose.
- Identify the economic benefits of competition
Success Criteria: By the end of this lesson you will be able to
Understand the sources of government revenue and the benefits of competition.
You will also learn how to make an economic debate .
You will be able to understand the
allocation by governments, both in Canada and
internationally, of scarce resources to address
social needs (e.g., access to education, health care,
and housing; support services for disabled people,
immigrants, poor people)
When the government imposes a new tax on a product, who actually ends up paying this tax?
Welfare State
A philosophy that government should intervene to help people who are poor, sick, or unemployed as well as provide equal access to education, health care, and social services.Social Welfare Safety Net
Government programs, such as Employment Insurance and the Child Tax Credit, established to help vulnerable members of the population.Transfer payments
Direct payments from governments to other governments or to individuals; a mechanism for providing social security, income support, and alleviation of regional disparities.
Marginal tax rate
The tax rate paid on an increase in an individual’s income.Universality
A principle of the Canadian welfare state specifying that some benefits, such as health care, should be available to all citizens, regardless of income.Progressive tax
A tax (such as income tax) in which the tax rate increases as an individual’s income increases.Regressive tax
A tax rate that takes a proportionally lower percentage from higher-income earners.Proportional tax
A tax that takes a constant percentage for all income earnersRead from the book" A personal lesson from the great Depression"
Why and how did Mr. Daniel Wye became bankrupt?
Students to complete this after you've finished all activities/tasks in today's lesson.