These services provide some of the resources that help to maintain and improve a society. Examples of services include food preparation and delivery, health care, education, and entertainment. In contrast to these objects, services are activities that benefit people. Goods produced for sale on the market are called commodities. Goods can meet essential needs, such as a place to live, clothing, and food, or they can be luxuries-those things we do not need to live but want anyway. Goods are the physical objects we find, grow, or make in order to meet our needs and the needs of others. Economy refers to the social institutions through which a society’s resources (goods and services) are managed. It is how people optimize what they have to meet their wants and needs. Understand the basic elements of poverty in Canada todayĮver since the first people traded one item for another, there has been some form of economy in the world.Explain how women and immigrants have impacted the modern Canadian workforce.Describe the current Canadian workforce and the trend of polarization.Discussion how functionalists, critical sociologists, and symbolic interactionists view the economy and work.Describe capitalism and socialism both in theory and in practice.Understand types of economic systems and their historical development.
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