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Chapter 2

Chapter 2. Economics in History. Throughout history, people have always had an economic system. The main purpose of an economic system is to answer 3 questions. What goods and services do people need and want? How can we make these goods and services? How will we distribute them?.

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Chapter 2

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  1. Chapter 2 Economics in History

  2. Throughout history, people have always had an economic system The main purpose of an economic system is to answer 3 questions • What goods and services do people need and want? • How can we make these goods and services? • How will we distribute them?

  3. The term commodities refers to the goods and services that are distributed in an economic system

  4. These commodities are either shared, traded or bought and sold depending on the type of economy

  5. An industrial economy is an economy which depends on manufacturing technologies to make the goods that they sell

  6. The 1st industrial economies started during the industrial revolution in Europe in the late 1700's

  7. Now most regions of the world use this type of economy

  8. First Nations and Inuit Economies Needs and Wants

  9. These people had a traditional economy based on the natural resources available in that region

  10. The three needs of a people, including aboriginals, are food, clothing and shelter

  11. Inuit tupik – summer residence made of caribou skin that was easily transported Their homes were built on the materials around them.

  12. Inuit winter home made of rock and sod

  13. Overall, the First Nations and Inuit peoples needed and wanted land and natural resources

  14. Aboriginal means living in a land from earliest times. There are 3 groups of aboriginal people in Canada Handout 1

  15. Handout 1 Inuit The First Peoples of northern Canada above the tree line

  16. First Nations The First Peoples of the rest of Canada

  17. Metis These are the children of either Inuit or First Nations people and the early European fur traders

  18. Production Aboriginal peoples produced goods by hand, mostly using bone and stone tools.

  19. Nothing was wasted. • Example : Innu used caribou meat for food, its bones for tools, and its hide was used for clothing, shelter or footwear.

  20. Aboriginal people believed the land and natural resources must be used wisely. They only killed animals that they needed

  21. They gave thanks for the resources they used. • Example : Innu have a special meal called the Mukushan after a successful hunt to honour the spirit of the caribou.

  22. The First Nations and Inuit peoples shared equally in what was produced and everyone helped produce it Handout 2

  23. Handout 2 Maritimes refers to the provinces of New Brunswick, Nova Scotia and P.E.I. These area had an abundance of resources year round.

  24. Atlantic Canada included the Maritimes plus the province of Newfoundland and Labrador.

  25. The land and water were sources of life so they were very important to these peoples

  26. Very, Very Important Concept First Nations and Inuit had no notion of private ownership (the idea that one person has complete control over an area of land)

  27. Newcomers Needs and Wants

  28. Europeans first came to North America for economic, cultural and political empowerment

  29. Europeans such as the Puritans in England came to America for religious freedom

  30. Some Europeans were politically disempowered in their home countries. They were not allowed to vote

  31. Handout 3 Europeans came to North America for a variety of reasons

  32. Wanted to own more land

  33. Wanted to spread Christianity (cultural empowerment)

  34. Looking for economic opportunities (economic empowerment) • natural resources such as lumber, furs, fish & minerals that they could sell back home in Europe.

  35. Very, very important concept # 2 Land ownership was very important for Europeans who had no hope of owning land in their former countries.

  36. People were forced to either rent the land from the nobility (rich, upper classes) or work for the nobility in order to have a place to live. *Irish potato famine *Scottish Land Clearances

  37. 3 main resources Europeans wanted were • Fish • Furs • Lumber

  38. Fish was a very valuable food source resource as cheap protein and for religious reasons since many days were decreed meatless days by the church

  39. Many European countries were involved in the migratory fishery off the coast of Newfoundland but the English were the most successful.

  40. Migratory fishery Countries would fish during the spring and summer, preserve it, and return home to Europe during the fall

  41. Domestic Fishery Began in early 1700's when settlers from Ireland and England began to permanently settle in Newfoundland.

  42. Fur Trade Was originally developed by the French who settled the interior of North America

  43. The beaver pelts were of high quality and were made into hats for sale in Europe

  44. Fur traders set up a trade system with the First Nations people and traded guns, blankets, and other goods for their pelts.

  45. Lumber Lumber was of great value to the Europeans because most of the great forests of Europe had been already cut down.

  46. Great Britain needed lumber for housing and for shipbuilding to provide ships for the navy to defend itself and the British Empire

  47. Production Until the 1700's, even though most Europeans had metal tools to make their work easier, it was still done mostly by hand.

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