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Minds on

MINDS ON

When you think about a traditional classroom, a common object found there is a chalk brush like the one below. While it is a very simple object, there are many steps in producing and delivering it to the chalkboard ledge in a classroom.

This is an image of a chalkboard with a piece of chalk and eraser in front of it.

This is the Portfolio icon. Brainstorm

Create a step by step plan that ended with that chalk brush in a classroom.

Hint: think about the materials that make up this product.

To get this chalk brush to your classroom, a lot of factors were required. Organize them into some sort of categories.

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Factors of Production

What do you think about when you hear the word productive? Perhaps a teacher or parent asks if you were being productive? In economics, productive resources are an important concept, which means anything that can be used to create or manufacture valuable goods or services. They are also known as the factors of production. The factors of production are land, labour and capital.

  • Land - includes not just the soil, but resources found in or below the surface of the earth such as mineral deposits, groundwater, fossil fuels.
  • Labour - includes not just physical labour, but also mental effort and entrepreneurship. 
  • Capital - refers to goods that aid in the production of other goods and services, such as factories, warehouses, machinery, (real capital), but also the money available to acquire these goods, called money (or financial) capital.

This is the discussion icon. Land, Labour, Capital

Below is a table showing examples of each of the factors of production.  Add one example for each factor or suggest an alternative argument.

Land Labour Capital

Oil discovery offshore Newfoundland

Auto workers in Windsor

New electric transport trucks 

Wineries in southern Ontario

Foreign workers in agricultural areas

Highspeed wifi in all workplaces

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Action.

ACTION

Externality

Externality - An impact, positive or negative, on any party not involved in a given economic transaction or act.

A positive externality (also called "external benefit" or "external economy" or "beneficial externality") is the positive effect an activity imposes on an unrelated third party.

Similar to a negative externality, it can arise either on the production side, or on the consumption side.

Negative Externalities

Positive Externalities

Air pollution from burning fossil fuels.

Education which helps individuals and also provides an improved workforce for businesses.

Climate change as a consequence of greenhouse gas emissions from burning oil, gas, and coal...

Walking to work which is good for a person’s health and budget and reduces greenhouse gas emissions.

Water pollution by industries that adds effluent, which harms plants, animals, and humans.

A person may keep bees for her own enjoyment, but gardeners in the area benefit because their flowers are pollinated.

This is the discussion icon. Analysing Externalities

Answer ONE of the following:

  1. What negative externalities are associated with the tobacco industry? Who bears the costs associated with these externalities? What are some government policies that attempt to reduce these costs?
  2. What are the positive and negative externalities associated with constructing dedicated bicycle lanes in a city?
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This is the Portfolio icon. Reflection

Look at the cartoon below and watch the short video about the Kitimat LNG pipeline project. As you look and watch, make notes using the following questions:

Primary Questions Secondary Questions
  • Who created this source?
  • Was it the government, business, workers, consumer group, lobby group, pressure group, etc.
  • Why was the source made - what is its purpose?
  • Was it to: persuade, inform, condemn, express emotion/feeling, educate, entertain, express an opinion?
  • How does the format of the source indicate purpose and/or bias?
  • What language and/or images are used?
  • Is it humorous, exaggerated, emotive, logical, matter-of-fact, balanced, descriptive, etc.?

This cartoon shows a map of Canada with a man standing where British Columbia should be. He is holding the piece of map representing BC and wringing out oil as a puddle of oil surrounds his feet. The caption says
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This is the dropbox icon. Analysing Costs and Benefits

For the following article, highlight all economic concepts (create a note):

  • Identify the various economic stakeholders and economic perspectives.
  • Identify the impact of socio-economic/cultural issues and externalities.
  • Demonstrate economic concepts by challenging evidence with data from other sources (fully sourced).
  • Using the information provided, create at least one supply/demand graph to explain a concept/event.
  • Check for updates since article was published (e.g., new policies/events).

Read this article, Jobs vs. the environment: First Nations face a tough choice from The Globe and Mail (Original article)

If you want to view any links in this pdf, right click and select "Open Link in New Tab" to avoid leaving this page. (View the original article.)

 
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Consolidation

CONSOLIDATION

This is the discussion icon. Sustainability

Respond to ONE of the following:

  1. What are the implications of the scarcity of land for economic development?
  2. What might be the long-term effect if land is not used in a sustainable way?
  3. What are some ways in which governments try to ensure that there are enough skilled workers to support economic development?
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This is the dropbox icon. Externalities

Respond to ONE of the following:

  1. What positive and negative externalities are associated with mining in the Circle of Fire in Northern Ontario? Who bears the costs associated with these externalities? What are some government policies that attempt to reduce these costs?
  2. What are the positive and negative externalities associated with closing nuclear power plants in Ontario?
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