Tuesday, March 8, 2011
You and the economy - doing your part for Canada!
We have been having some excellent discussions about money and business over the last two weeks. Well done! Recently, we discussed consumer spending and its importance to Canada's economy. Tell me about how your spending helps local businesses and contributes to the Canadian economy? Give examples of your spending.
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I often go to Carlo's Pizza and buy food there just like most other people at Saltfleet. The more I spend at Carlo's, the more money they will have. So they can either spend it or save it. If they spend it, they will be supporting some other place that will then also have more money. And then that place will spend their money as well and so on.
ReplyDeleteI usually spend money on stores such as gamestores,music stores WAL-MART! i think it contributes to the economy because im contributing to the government and such by paying the taxes. I'm also helping the buisness ruin because im buying thing from that certain buisness
ReplyDeleteMy spending helps local businesses because when a spend a sum of money at a business like Fortino's, the business is gaining money and I'm getting a product that they supply. The worker would also be getting paid because they served a customer and made a sale. then that employee that made money will go and spend their money some place else. Also, when I pay for a product, I'm am also spending and extra 13% due to the HST. In paying the HST, I am helping the Canadian economy gain money and they can use that money to build government services, such as schools, hospitals, roads,etc.
ReplyDeleteWhen I bought my phone card so I can put money on it. I helped out my service provider Rogers by using there service. When I get money either from my mom or birthday I usually save all my money and spend it all in the end on something I was saving up for.
ReplyDeleteWhen I spend money at a restaurant or fast food place (like McDonalds and Carlos), I am helping the economy. It helps the economy because, when I spend money, the money gets paid to the employees. The employees spend the money maybe at a grocery store. Those employees at the grocery store get paid the money, and it keeps circulating through the countries economy. I also spend money at clothing stores sometimes like American Eagle and other places, I also buy a lot of food.
ReplyDeletei spend my money at carlos,walmart,gamestop,tim hortons, mcdonalds and thats pretty much it and itv hepls those places cause then they can buy to goods or expand there store and when i buy things i also give money to the government through taxes
ReplyDeletewhen i spend my money it helps keep the economy rolling because when i spend money for things at the mall i pay for taxes. Then those taxes go to the govornment, then the govornment uses those taxes to pay for government jobs and for making roads or buildings. By me spending money it creates more jobs as well because when i spend money at carlos for a slice of pizza it keeps them in business as well as give moey to our government so the economy can keep rolling
ReplyDeleteWhen I decide to buy things like books I am giving money to that business. That business is then able to buy more books to sell and is able to pay for employees to work in that store/business. Those employees then spend that money creating an on-going cycle. Some of that money that was spent then goes to the government in the form of taxes. The government then provides services that are important to Canadians. Some of these services include, schooling, medical care and the repair of roads. The teachers, dooctors and constuction workers are paid and then spend their money too.
ReplyDeleteAt my age i dont have all that money to spend i tend to save a bit of it. I spend most of it on food for luch adn other small things. I never really spend at local stores i buyfrom places like tim hortons or walmart. I consider my self the typical spender not really spend at local business. I preferalbly choose to by at places with better prices like walmart, big brand names stores and resturaunts. Even goping out to lunch or dinner i will go to a placelike sub way to get fod the only local place i will go to would be carlous pizza for lunch.
ReplyDeleteMe as a 16 year old girl with a job and no taxes to pay.I spend alot of money, more then a kid that only spends the money there parents give them most likely.I buy alot of unnecessary things like food and entrainment. My money going to places like the movies goes to them where they have to manage how much they will spend on food and save and pay their employees.
ReplyDeleteWhen I spend money it helps the economy by: I go to a local store say Walmart and I purchase an a product. This act gives the money I spend to Walmart where the money gets split up. Some of the money goes towards taxes, expenses (electricty/rent), and towards paying the employee where then then do this process; paying taxes etc. Also some of the money goes towards having the item made and shipped to the store. The last time I spent money I spent it on yoga pants. The money form the yoga pants goes towards the people who made the pants and then the rest of the money was divided up. Plus I paid tax on these pants. So the money I spend helps to provide jobs and pays taxes so the government pays for roads and hospitals. This is how my spending helps the economy.
ReplyDeleteMy spending helps the Canadian economy because I am putting money back into the Canadian economy by paying tax and buying different products. My spending helps businesses because i am buying their products which means they will have money to buy new products, and to help continue to run the business. An example of this is when my family goes and buys groceries. If we spend 200 dollars on groceries, some of that money will be taxes and will go to the government to help the Canadian economy. The rest of that money will go to the grocery store to help run the store and also to help buy the food that comes into the store.
ReplyDeleteMy spending helps local businesses and the economy because when I buy a product from a business, the cost of the product gets divided, a portio of it goes to the employee that served me, and the other portion of the money goes toward the business itself. The employee's portion gets added to his/her paycheck. However, the employee has to pay income taxes to the government, so the more he/she makes, generally, the more goes towards the government funds. These government funds go towards big projects to better the community such as roads/highways, new stores and plazas, and new properties. To make each project successful, they need workers to build the road and buildings, landscapers to make it look nice, engineers to design the project, and electricians and plumbers to work on the essential utilities needed to make the building. The government pays these workers to do their jobs, and the workers go and spend, save, and pay taxes. When the workers spend their money at a local store or supercentre, the money yet again gets divided between the employee that served them, and the business. Then the cycle repeats itself over again
ReplyDeleteWhen people spend money the constant cycle of spending in the Canadian economy occurs. for example when people work for Wal-Mart they get paid by Wal-Mart. Once they have their income, they go out and buy groceries at Fortinos. Instaed of them paying $5 for a cheesburger, they have to pay $5.65 due to HST taxes. The 13% ($.65) tax goes to the Canadian economy and then the cycle repeats.
ReplyDeleteMY own personal experience of this action is when I get paid for reffereeing hockey. My scheduler pays me about $200 and I divide my money up. I put $125 into my savings account and I use $75 dollars to spend. After I got paid I decided to go to the mall and get some new clothes for myself. I bought a $15 shirt and ended up paying $1.95 to the government (HST). The cycle still continues every time I get a pay check except I buy different things with my spending money.
My spending contributes to the Canadian economy because spending money at a business helps the business pay for its workers and products. When the workers are paid, they can use their money to buy things for themselves. Everybody pays taxes, so when I pay the businesses, who pay the workers, who pay taxes, it goes to the government. The government pays for more businesses, roads, schools and other things to be built to service me and everyone else. Things that I usually spend my money on is at restaurants because I go out a lot, so I eat out. I spend my money at the mall, when I am buying new clothes, bags or anything else I want. And I spend my money at the grocery store when I need food at home. All of these places are examples of businesses, and when I spend my money there, it helps me and all of Canada.
ReplyDeleteMy spending helps generating money through the economy and tries to maintain stability. Spending helps local businesses by spending money on their products whcih profits them, and the government(through HST. When the local business profits, they go out and spend money on other products and end up paying HST to the governement. The cycle of spending and profiting continues. Spending contributes to the Canadian economy by keeping the flow of buying and spending going. My spending helps local businesses like Carlos, clothing stores, Tim Horton, staples, and etc. When I spend money at Carlos, I get the product, they get the profit, and they go spend it on things they need like, household stuff, ordering ingredients, and etc. Whoever they buy from benfit off them, and this cycle continues. From this cycle the governement benefits too and in return we get services like education, health benefits, and etc. Also, when I buy from Urban Behaviour or another clothing store, it generates money towards their business, and the cycle of spending and profiting ends up contributing to the Canadian business. I buy a shirt, pay tax, business profits, they spend, pay tax, and the money keeps on cycling through the Canadian Economy. The moeny I spend, ends up with someone else so they can spend and pass the money on to someone else. This flow is very important to keep the Canadian economy stable, because everyone ends up spending and profiting.
ReplyDeleteMy spending helps local business's and contributes to the Canadian economy because if I spend money at Carlos for lunch, they use the money they make to buy theirselves products and what they need. When I buy other things, there is 13% HST which goes to the government where they use that money to build schools, roads, hospital, etc. I recently bought headphones from BestBuy and they will use that money towards paying their employees and ordering in new products. As long as everyone spends some money the government will have more to spend on important things that we dont have to worry about.
ReplyDeleteOur spending helps the local businesses because we support them by buying their goods or services and the taxes we pay on these good or services contributes to the canadian economy. These taxes help to pay for basic things we need like doctors, police officers and even teachers. An example of these would be, when i go out and buy groceries i am taxed 13% which goes to the government to better the canadian economy.
ReplyDeleteConsidering that money is what makes our economy go around, by us purchasing things from local businesses, and stores we are also contributing to our government.
ReplyDeleteIt is called the "trickle down" way of spending. This means that money starts at the Canadian Government, and works its way to government workers (like plumbers, teachers, electricians, and police officers) or people like us. Once the labourers earn money, they spend it at places where we purchase our needs and wants. (like Wal-Mart, Fortinos, Home Depot and Rona). These people then pay taxes, and give the mojney back to the government, and it is a constant system of money.
My spending are usually at places like Wal-Mart, the mall (hollister, american eagle, lulu lemon, sports check, etc) and food places. This contributes to the Canadian Economy because when i purchase a sweater, for example, my money goes to the company funding. The companies then have to purchase their property taxes, and business owner taxes. Then the government provides us with schooling, policing, and other services.
My spending helps local businesses and contributes to the Canadian economy because when i buy for example a pair of jeans from a certain store the money goes to them and you need money in order to have your own business, and the taxes i pay go to the government which provides us with roads, schools, malls, etc.
ReplyDeleteWhn i buy lunch at places like carlos, mcdonalds, and little cesars i'm copntributing to the local economy and the Canadian economy. At carlos since it's a family run business i'm helping out the local economy since it's owned by the family, and the only time my money would go outside the local economy is when they pay there tax. At mcdonalds and little cesars i'm helping the Canadian economy since it's a chain some of the money goes to paying employees but some of the other money probably goes to the owner and a small portion would probably go to the owner of the chain as a royalty. I also but some food from fortinos which is also similar to the mcdonalds and little cesars in the way the money works. If your spending money at a fmaily owned business or other small business the maoney is mainly staying in the local economy whereas when you buy from large chain businesses your money isn't just going to the local economy it's going outside the local economy. SO places like mcodnalds, sub way, nike etc. are major chain brands so if you buy tems from there you're supporting a much larger economy. Places like Carlo's, corner stores are all small businesses and your money will stay in the local economy.
ReplyDeleteMy spending helps local businesses and contributes to the Canadian economy because when I spend I give the economy and businesses money. The government can then use this money to hire people to do work to help improve the surrounding environment and to help the economy. The money that would have gone to the business would give the owners and works a chance to spend money and buy more products for the store. Some money would also go to the government and the other to local business.
ReplyDeleteFor example, if my family and I went out to dinner at a restaurant, let’s say the keg, we would be giving a certain amount of money to the owner, workers, and government. The money that went to the government could potential help with building roads or improving schools in Hamilton. The money that would go to the owner and workers would give them a chance to purchase more food for future costumers and for them to go out and feed themselves and there families. This would give them more spending money, which some would end up to the government help with schools and roads and such. This would continue in a cycle.
Spending money is extremely benefical to the economy as you are putting money back into the economy. When you are saving money, you are taking money out of the economy. By paying taxes, you are giving the governmnet money to pay for governmnet services such as roads, schools and hospitals. For example a couple of weeks ago I bought clothes from the mall. There was 13% tax. That amount of money put towards tax goes to the government to pay for the services. The actual product price goes to the company to pay for workers/employees, the actual making of the product and the advertising.
ReplyDeletethe places i spend money mostly is,carlos,gamestop,and walmart, i am helping the economy and those businesses out by giveing them money so they have money to pay employees and pay taxes,i am also helping the economy by giveing the economy money so it can grow and get richer. i am a big spender and most of my money is spent on food or electronics so the business i help out most are fast food places and electronic store(best buy,walmart,game stop,and future shop) $$$$$$$$$$$$$$$$$$$ :D
ReplyDeleteWe have been having some excellent discussions about money and business over the last two weeks. Well done! Recently, we discussed consumer spending and its importance to Canada's economy. Tell me about how your spending helps local businesses and contributes to the Canadian economy? Give examples of your spending.
ReplyDelete- Well, my spending is contributing to local business when i go to a local west indian market for special jamaican foods by helping them profit from my purchase as well as leaving tips in their tip bin.when i buy clothing and shoes from west 49 (which is a canadian store) i contribute to helping pay the workers and the government with the 13% hst.
Spending money is beneficial to the economy because you are putting back what was taken. By paying taxes you are giving money for help towards services for the city/town. An example would be, a few weeks back i bought a new laptop. 13% goes back to the goverment to pay for renovations and services. -Austin Greenaway
ReplyDeleteMy spending helps local businesses because if I buy soemthing from them (eg. pizza at carlo's), the money goes to their company directly. That way they can spend it on whatever they want, and recieve more money than they would if they were simply workers at someone else's company.
ReplyDeleteMy spending contributes to the Canadian economy because whenever I buy something (eg. a shirt from hollister) I have to pay a certain amount of taxes, which go to help teh Canadian Economy, so that they can provide us with 'free' services, such as hospitals, schools, etc.
Most people think that it may be better to save money all the time, it is important to save money but spending your money helps the Canadian economy's benefits. Spending money on things that benifit your needs will also help many others needs. When I go out to the mall and spend money on clothes that I either need or desire it helps the government because they receive the 13% HST and use that for important things such as safety(police), healthcare, building projects etc. So, even though spending money, may not always be the greatest idea it helps others with their jobs and contributes to the Canadian economy. Which helps them to produce more jobs for more spending.
ReplyDeleteSpending moneyis a good thing for the Canadian economy because when you spend money it circulates the money you make back into the economy via the plinko affect. It is important for savers to spend because we need to keep the money circulating to make sure we do not go into recession. Some examples of my spendings are buying strawberries in the summer ata farm rather than getting the strawberries imported. Another example of my spending is at Tim Hortons. This is helping the Canadian economy because it is a Canada wide organization.
ReplyDeleteeven though i am a saver, i do spend my money on things sometimes, for lunch duing school at maybe mcdonalds or tim hortons. buying food at tim hortons helps the canadian economy because it is a canadian organization, and if nobody shopped at that tim hortons it would go out of business and the people that work there would have no jobs and no money to spend to help the economy. its the same with mcdonalds but it is an american organization but they still employ canadian workers.
ReplyDeleteSpending money is something that has to happen for our economy to run properly. The money that i spend say buying food or headphones or something isnt just going to the store i bought those things from. Yes the store does take most of the profit but that money will go to buying new products, paying workers and paying their bills. In turn the people that work there will take their pay check and go buy the say a movie ticket. Then the whole thing starts over again. So if people dont spend money on the local things around them then the things they enjoy, for example a coffee shop, could go out of business. If the people save the money they get that means they arnt spending as much. As a result the local stores arnt making as much, which means that the government is lacking in the money they need. By keeping up our local economy we help to support the government, which is who pays for our health care, roads, school, hospitals and so on.
ReplyDeleteMy spending helps local businesses and contributes to the Canadian economy by me spending my money at Walmart or Fortinos, which can help Canada because my money goes to the store and also the employees which can buy item at Zellers, and other Canadian based stores. Also with the 13% tax that I pay for my items at Walmart or other stores which goes to the Canadian governement. I also purchase some things at Tim Hortons like buying coffee which help Canada because it is Canadian based store, which all so helps Canada, and the trickle down system in Canada.
ReplyDeleteI do not usually go on vacation so often, so that helps Canada because I am not buying items in other countries and helping their government, I am helping the Canadian government grow.
My spending helps local businesses and families. Considering I am a spender most of the money I get is put towards lunch money and late night snacks, I contribute a decent amount to the Canadian economy. Most of my money goes to places like Hastey Market, Grandma Willy's, and the Egg and I.
ReplyDeleteSpending locally is important to keep money circulating through the whole economy. For example, buying lunch at Boston Pizza prodvides the company with money to run the restaurant, purchase cooking materials, and pay their employees. Boston Pizza in turn pays taxes to the Government to provide all Canadians with free health care, paved roads, free education, etc. To provide these services, the Government must hire workers, which require a salary. From there the money returns to the local business (Boston Pizza) when the worker eats lunch. Thus starting the cycle again.
ReplyDeleteSo spending money locally is important to support individuals, small businesses, and the whole country.
my spending helps businesses and my economy by me spending money in there store or in my city.
ReplyDeletei think that im a spender and spenders spend money all the time, so me spending money at "walmart" (for an example) well help them beacuse i bought a product from there and now the money that they have they can use it to by more products. i also think i help the economy by spending beacuse the government well make the money off taxes n spend that on the city /economy.
My spending helps local buusinesses and contributes to the canadian enconomy because when i spend money small businesses are able to pay the bills to keep their bussines running, then they contribute to the economy. so money goes back into the economy keeping us away from the recession. i spend money at footlockers i am helping thier company stay in business and they keep the economy moving.
ReplyDeleteMy spending helps local businesses and contributes to the Canadian economy because I spent on food. My spending gives employees a job at Fortinos. Employees give money to goverment. Goverment giving money to Schools, Roads, and Hospitals. Teachers are hired by schools. Doctors are hired by hospitals. Constructions are hired by roads. They spent money on food. I bought $5 popcorn on Wal-Mart. Wal-Mart hired by cashier to sell popcorn to the consumer. I give $5.33 to cashier.
ReplyDeleteSpending money is very beneficial to the economy because when I buy something at a store my money is then pasted onto that business. Then money then eventually works it's way back to the government by those businesses paying taxes. This helps our candaian economy because paying taxes pays for government services such as, schools, roads, and hospitals.
ReplyDeleteMy Spending usually takes place, at Wal-Mart, Shoppers, Fortinos, and our caf. When these businesses pay taxes on their business they contribute to our government services.
When i spend money, it is extremely beneficial to the economy. I am usually spending in Canada and rarely go over to the states to spend my money. I don't really save my money. When you save money you are taking money out of the economy. It's not that saving is a bad thing in all situations but when you spend your money you are giving money to the Canadian economy. When we pay taxes, we are giviing to the government to pay for services and goods like education, roads, hospitals, etc.
ReplyDeleteFor example when i buy clothes from the mall, there is a tax that goes to the government. Some money also goes to the workers/ employees of the store.
Basically the money that i spend will eventually circulate back to me or help me in a certain way. By spending money in a Canadian company the money will pay for services, taxes, employies. Thats why the Government attracts tourists to add to the Canadian economy. When you pay your taxes you are paying for gornment services such as health care, saftey, policing, schooling, roads. I think the tax rate was raised to high to fast and that it shiould of started at a more reasonable rate like 11%. I don't think there would of been as many complaints about the tax.
ReplyDeleteMy spending helps the Canadian economy because it thoroughly generates it throughout the economy, helping local businesses and the government(through HST). For example: whenmy friends and I go out and buy pizza from Carlos he probably makes about $10.00, then Carlos goes out and buys gas for his car, gives the gas station owner money, who then spends it and so on. It's the trickle down effect (multplier effect)The government profits when I pay taxes for my clothing. For example: when I buy an item, like a guess sweater, they add 13% of teaxes to my bill and now I have to pay the total cost of the item PLUS the tax which goes to the government.
ReplyDeleteSpending definitely contributes positively to the Canadian economy and helps the local businesses, because when you buy something from a business, you pay for the product or service, which helps the businesses profit, and the taxes you pay goes to the economy of Canada (i.e. healthcare, police service). Therefore, when you spend money, part of the money goes towards the business (to renovate, expand, give workers pay check, etc.) and the taxes you pay goes towards maintaining and bettering the Canadian economy (the money from the taxes goes towards building schools, hospitals, better services, police, etc, which helps better our economy. This is called the `trickle down/multiplier effect” money works its way from the government down to business/services, and then to workers and then to consumers, and when the consumer spends that money, the 13% tax that is payed goes back into the Canadian economy and the cycle repeats itself. When i buy food from fortinos, part of what i am paying goes towards paying for the workers, advertising, the food, and the company profits, which enables the workers to spend that money and contribute to the cycle as well. The tax i pay goes towards the government, who starts another cycle. The money that I spend keeps on circulating throughout the economy from one person to another. By spending money, i contributed to the cycle.
ReplyDeleteWell when I go out and buy books I am giving money to all the people who work for the book store I'm in. The workers then have money to buy what they want, save it and pay taxes. I am helping Canada's economy when I by a book because I am putting the money back into the cycle of buying, selling and paying taxes.
ReplyDeleteGreat responses everyone!
ReplyDeleteconributing your money towards local services and products helps the Canadian government as a whole because the money you spend is distrubuted out for things such as taxes(collected by the government) which can pay for services such as schools or region policing. This process of spending and receiving is called the multiplier or "trickle down" effect. An example of this would be buying groceries. A percentage is given to the government (from taxes) and the rest is benefiting the store that you bought from and also the employees.
ReplyDeleteI spent my money at carlos so i contribute to carlos business and they pay taxes to the goverenment. i aslo got a game at bestbuy and helped the gaming part of the company and payed taxes. i also like to save money when ever i earn or get money i save 60% i put the other 40% i put in my walet for spending.
ReplyDeleteWhat i think that how i help out the economy that contributes local businesses in canada is always just buying what you think interests you when you are at a store which helps out the consumers. Also say you go to a bar and you ask a bartender for a beer and say for example you liked their restaurant or their personality,you would probably give them a tip which is a big contribute to the economy. Also consumers spending money to canadas economy helps out pay taxes for the government because they can help out the community and everything all around us which is called The Product Life Cycle (PLC).
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