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* 1. Erich and his family are planning a visit to Cuba. As part of their preparation, they are discussing the different economic systems between Canada and Cuba. What economic system does Canada have?

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* 2. What type of economic system does Cuba have?

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* 3. Erich loves to play video games and when he is on vacation in Cuba he wants to spend lots of time doing that. What issues might Erich encounter?

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* 4. What are the three questions every economy has to answer?

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* 5. Every country has different resources that fuel the economy. What are Canada's top three natural resources?

Watch the following video and answer the questions that follow: https://www.youtube.com/watch?v=720uyg0Dd_M

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* 6. What does the Law of Demand say?

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* 7. Rona started a business selling t-shirts. She has produced more t-shirts than she has been able to sell. What advice would you give Rona?

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* 8. Rona has decided to sell earrings instead of t-shirts. If Rona cannot produce enough earrings to meet the demand, what advice would you give her?

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* 9. If the price of beef goes up, and the price of chicken stays the same, what are consumers most likely to do?

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* 10. How would you describe how consumers react to change in prices?

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