Grade 8 · Social Studies · Unit 4 of 4
Consumers & the Economy
Supply, demand and smart choices
What your child practises
How a mixed market economy works, supply and demand, the effects of consumerism, making responsible consumer choices and caring for the environment.
Saskatchewan Curriculum outcome: RW8.1–RW8.3 · Canada's mixed market economy, consumerism, personal consumer choices and environmental stewardship
Sample questions
A taste of this unit. In the app, questions change every time and get easier or harder to match your child.
Question 1
In a market economy, prices are mostly set by…
📈- supply and demand
- the weather
- the first letter of the product
- one person's rule
Show answer
supply and demand
Hint: When demand is high and supply is low, prices rise.
Question 2
Why do governments regulate things like food safety and advertising to children?
🛡️- to protect consumers and keep markets fair
- to raise prices only
- because it is fun
- to make shopping harder
Show answer
to protect consumers and keep markets fair
Hint: Rules protect people from harm and unfair practices.
Question 3
Why might Canada's wealth of natural resources make sustainability decisions difficult?
⚖️- resources never run out
- there are no jobs
- using resources brings jobs and income but can harm the environment
- the environment is not affected
Show answer
using resources brings jobs and income but can harm the environment
Hint: Balancing benefits and costs is hard.
Question 4
Is it a need or a want? Tap an item, then tap its basket.
Sort into: 🍞 need · 🎮 want
- 🧸a limited-edition toy
- 🍞food
- 🚰clean water
- 🎮the newest game console
- 👟designer sneakers
- 🏠safe housing
Show answer
🍞 need: food, clean water, safe housing · 🎮 want: a limited-edition toy, the newest game console, designer sneakers
Hint: Needs are things we must have to live. Wants are things we would like to have.
Question 5
A company advertises a product as “eco-friendly” without proof. This is called…
🔎- greenwashing
- recycling
- bartering
- fair trade
Show answer
greenwashing
Hint: Consumers should look for evidence behind claims.
Question 6
Which is the best first choice before buying something new?
🔧- buy a new one at once
- buy two
- check if you can repair, borrow or buy it used
- throw the old one away
Show answer
check if you can repair, borrow or buy it used
Hint: Reusing saves resources.