Question

name:________ date:________ activity: in pairs, find an example of a time when certain groups in canada have been impacted by market forces beyond their control. write 3 bullet points about it here. you will share with the class. • • •

Explanation:

To answer this, we can consider the 2008 financial crisis impact on Canadian workers, the oil price crash affecting Alberta's oil - related workers, and the COVID - 19 pandemic's impact on small business owners in Canada.

• During the 2008 global financial crisis, many Canadian manufacturing workers faced job losses as demand for Canadian - made goods dropped globally. Market forces like reduced international demand and credit crunch were beyond their control.
• In the mid - 2010s, the sharp decline in global oil prices severely impacted workers in Alberta's oil and gas sector. The drop in oil prices (a market force) led to layoffs, reduced working hours, and salary cuts for these workers who had little control over global oil market dynamics.
• At the start of the COVID - 19 pandemic in 2020, small business owners in Canada (especially in the hospitality and retail sectors) were heavily impacted. Government - mandated closures (driven by public health needs but also influenced by market uncertainty) and a sudden drop in consumer demand (a market force) forced many to close temporarily or permanently, with little control over the pandemic - induced market changes.

Answer:

• 2008 Financial Crisis: Canadian manufacturing workers faced job losses due to reduced global demand for Canadian - made goods, a market force beyond their control.
• Mid - 2010s Oil Price Crash: Workers in Alberta's oil and gas sector experienced layoffs and reduced income as global oil prices plummeted, a market force they couldn't control.
• 2020 COVID - 19 Pandemic: Small business owners in Canada's hospitality and retail sectors were impacted by sudden drops in consumer demand and government - mandated closures, market - related forces beyond their control.