Economic Is The Large Set Of Inter Related Production And Consumption Activities

Economic Is The Large Set Of Inter Related Production And Consumption Activities

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Economic is a term that has different meaning depending on the different economist. According to Investopedia (2015), “economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated”.
In the Northern Ontario districts of Greater Sudbury, Sudbury, and Nipissing, housing, job opportunities, health care, mining and personal debt are economic concerns. These are some of the issues affecting them economically, socially and environmentally wise.
Housing
In the district of Greater Sudbury, Sudbury, and Nipissing the housing market is a concern due to the fact that some of its residents do not have a stable income and are not able to pay rent because they suffer from different health issues that restrict employment. According to Greater Sudbury Chamber of Commerce (2015), “Average housing prices are edging up slowly in Greater Sudbury, and are projected to reach an average price of $256,000 by 2016, up from $201,000 in 2009.” Although this is maybe seen as a good thing economically it affects the social aspects of things this causes issues like homelessness. Greater Sudbury Chamber of Commerce (2015) states that the housing sale in Sudbury declined over the years. Affordable housing is scarce in the Sudbury region according to The Sudbury Star (2015) the Sudbury region has a Social Housing Program that consisted of more than 4,000 units. The problem with this is that there is a wait list that has around 22,000 people on it, the majority of approximately 12,000 people on this list are waiting for one bedroom this makes the wait time for one bedroom to take as long as two years. Having a specific request such as location can make their wait longer. Gre...


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...ying the price”. This article in Sudbury star (2015) also states that “Canadians are working harder than ever, incomes are flat-lining and household debt is rising”. Which is true due to the fact that there are limited job opportunities and the unemployment rate are increasing. This shows how the economic concerns are related to one another and how to impact it has on the social part such as homelessness and poverty.
Overall, the housing, job opportunities, health care, mining and personal debt are economic concerns in the districts of Greater Sudbury, Sudbury, and the Nipissing has issues with the information listed above. It also shows all the economic concerns are linked to one another and creates a problem in both socially and environment wise. Although the government is implementing plans to reduce these economic concerns it seems like they have a long way to go.

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