1.A growing number of Canadian workers moved from full-time employment to employment in the gig economy. (10 marks)

a.How might this change affect the quantity demanded of housing, transportation, entertainment and other consumer goods?

b.Explain how this shift to less full-time employment might affect costs of production.

c.What are the implications of this shift from full time employment to employment in the gig economy for perfectly competitive, monopolistically competitive, oligopolistic and monopolistic businesses?

Possible Sources:

Agrawal, P. (February 26, 2019). The gig economy. Intelligent Economist: Economic Theory & News. Retrieved from https://www.intelligenteconomist.com/gig-economy/

BMO Wealth Management. (July 2018). The gig economy. BMO Wealth Management Canadian edition Retrieved from: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=6&ved=2ahUKEwiL6ZjhiL7oAhVrITQIHSJxAQMQFjAFegQIBxAB&url=https%3A%2F%2Fwww.bmo.com%2Fassets%2Fpdfs%2Fwealth%2Fbmo_gig_economy_report_en.pdf&usg=AOvVaw1HUDDzc9oN0RezPjx0dMXq

Datta, N. (July 22, 2019). Is it time for the gig economy. World Economic Forum.Retrieved from: https://www.weforum.org/agenda/2019/07/willing-to-pay-for-security-gig-workers-freelancers-and-the-self-employed-want-steady-jobs

Frazer, J. (February 15, 2019). How the Gig Economy is Reshaping Careers for the Next Generation. Forbes. Retrieved from: https://www.forbes.com/sites/johnfrazer1/2019/02/15/how-the-gig-economy-is-reshaping-careers-for-the-next-generation/#7765af6949ad

Jeon, S-H, Liu, H. & Ostrovsky, Y. (2019) Measuring the Gig Economy in Canada Using Administrative Data.Statistics Canada.Retrieved from https://www150.statcan.gc.ca/n1/pub/11f0019m/11f0019m2019025-eng.htm

2. Living in the province of Alberta, it is easy to see the importance that oil has to our economy. (10 marks)

a.Briefly describe the current situation facing the global oil sector.

b.What is OPEC and how would it be described in economic terms?

c.Read about the current relationship between Saudi Arabia and Russia. In economic terms, describe what is occurring.

d.Suppose members of the United States, Mexico, and Canada trade agreement (USMCA) agree to reduce imports of foreign oil and set a price floor for North American oil. Briefly describe the impact this might have for Alberta oil producers, and for Canadian oil consumers.

Possible Sources:

Standish, R., and Johnson, K. (March 14, 2020). No End in sight to the Oil Price War Between Russia and Saudi Arabia. Foreign Policy. Retrieved from: https://foreignpolicy.com/2020/03/14/oil-price-war-russia-saudi-arabia-no-end-production/

Brennan, D. (March 13, 2020).Saudi Arabia-Russia Oil Price War Explained: How Long Will It Last and Who Is Likely to Win?Newsweek. Retrieved from: https://www.newsweek.com/saudi-arabia-russia-oil-price-war-explained-long-last-who-likely-win-1492151

Yager, D. (March 20, 2020). Fortress North America and Why We Need a Price Floor for oil. Energy Now. Retrieved from:https://energynow.ca/2020/03/fortress-north-america-and-why-we-need-a-floor-price-for-oil-david-yager/

3.Assume you are a senior manager of a cell phone provider such as TELUS, Rogers or Bell.

a.Discuss the impact COVID 19 will potentially have on your business in 2020 and possibly 2021.

b.Identify and discuss two significant risks from the virus.

c.What strategies can you initiate that might minimize the impact on your business?

d.How might your (cell phone provider) costs of production be affected in the short-run and long-run?

Possible Sources:

Garner, R. (March 20,2020). COVID-19: Canadian telecom companies beefing up networks as usage surges from remote working. Edmonton Journal. Retrieved from: https://edmontonjournal.com/news/national/covid-19-canadian-telecom-companies-beefing-up-networks-as-usage-surges-from-remote-working/

Lamont, J. (March 13, 2020). What Canadian telecom companies are doing to help customers during COVID-19. mobilesyrup. Retrieved from: https://mobilesyrup.com/2020/03/13/canadian-telecom-companies-help-customers-covid-19/

TELECOMREVIEW. (March 5, 2020). COVID-19: Consequences and opportunities for the ICT sector, Retrieved from https://www.telecomreview.com/index.php/articles/reports-and-coverage/3703-covid-19-consequences-and-opportunities-for-the-ict-sector