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Chapter 12 . Our Economic Outlook. Sabian Cymbals. LMFAO – Party Rock (Drum Cover) http :// www.youtube.com/watch?v=fzOuCBOuOi4&feature=related. Meductic , New Brunswick. Case Study: Sabian Cymbals. The first Sabian factory opened in Meductic , New Brunswick in 1969.

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chapter 12

Chapter 12

Our Economic Outlook

sabian cymbals
Sabian Cymbals
  • LMFAO – Party Rock (Drum Cover)
  • http://www.youtube.com/watch?v=fzOuCBOuOi4&feature=related
case study sabian cymbals
Case Study: Sabian Cymbals
  • The first Sabian factory opened in Meductic, New Brunswick in 1969.
  • The second factory was opened in 1996.
  • Sabian Ltd. is the second largest producer of cymbals in the world.
sabian history
Sabian History
  • Formerly owned by Robert Zildjian.
  • The Zildjian company is based in Massachusetts, USA.
  • Demand for their cymbals grew in the 1960’s due to the popularity of rock and roll music.
  • Demand increased again when Ringo Starr of the Beatles began using Sabian cymbals.
  • http://www.youtube.com/watch?v=rzvxlpYUMQY
history continued
History Continued
  • In 1969, a branch plant opened in New Brunswick so they wouldn’t have to pay import taxes on the cymbals.
  • Reasons for opening the plant in New Brunswick?
    • Wages were lower.
    • Workers had a good reputation for producing high quality goods.
    • New Brunswick was largely made of farmers, and they were familiar with the tools and machinery used.
    • Owner Robert Zildjian enjoyed fishing in the Saint John river.Making of cymbals:http://www.youtube.com/watch?v=vEgpIFAGksk&feature=related
the success of sabian
The Success of Sabian
  • The success story of Sabian cymbals shows us that economic wealth in a certain area depends on several key things:
    • The production and use of our own goods and services.
    • The sale of the goods and services that we produce.
    • The purchase of goods and services that are produced outside our region.
quality of life
Quality of Life
  • How do economists measure this?
  • The United Nations (UN) uses a number of things to measure conditions in the countries of the world. These include:
    • Gross Domestic Product (GDP) per person
    • Birth rate
    • Life Expectancy
    • Literacy (ability to read and write)
    • Maintaining the environment
    • Racial and gender equality
slide9

Countries that have a lot of industry generally rank higher on the UN scale.

  • Countries that have less industry rank lower in some key areas.
  • Most industrialized countries are found in the northern hemisphere; most countries with little industry are found in the southern hemisphere.
the atlantic provinces
The Atlantic Provinces
  • As some countries are wealthier than others, some provinces in Canada are richer than others.
  • The wealth gap among provinces is known as regional disparity.
  • As you can see, GDP for the Atlantic provinces is lowerthan the Canadian average.
why is the average gdp lower in atlantic canada
Why is the Average GDP Lower in Atlantic Canada?
  • Incomes are lower
  • The unemployment rate has been higher in Atlantic Canada for much of the 20th century
  • Most of the jobs in Atlantic Canada are seasonal, which means that a lot of people are employed for only part of the year
    • Major resource industries like agriculture, fishing, and forestry operate on a seasonal basis. Tourism also had a limited season, which is usually May until October.
  • The brain drain from Atlantic Canada
    • Almost 250,000 people have migrated from the region in the last 30 years. These people tend to be the younger, better-educated members of the labour force.
atlantic canada looking for solutions
Atlantic Canada: Looking for Solutions
  • Our economy is now growing.
  • To make sure services like health care and education remain similar throughout the country, the Canadian government introduced transfer payments.
    • Beginning in 1957, the government transferred some of the taxes collected in provinces with the highest GDPs to provinces with lower GDPs.
    • All provinces except Ontario, Alberta, and British Columbia have received transfer payments.
the importance of trade
The Importance of Trade
  • The economy of the Atlantic provinces developed through trade with Europe, the West Indies, and New England.
  • After Confederation(1867), more emphasis was placed on trade with the rest of Canada.
  • Today, Atlantic provinces trade with the world.
    • International and interprovincial trade provided employment for about 222,000 people in 1990, and this has brought in 6 billion dollars in 1992, and more than 10 billion dollars in 1995.
    • http://www.youtube.com/watch?v=cTt2HIftueE