The Supply Management system benefits:

According to public choice theory, the costs of the Supply Management system is divided over a large number of consumers.

"If there is one thing that economics can teach someone, it is that incentives matter."

How is this statement related to the theme of the video?

Removing the Supply Management system will force Canadian farmers to lower their production costs.

The supply management system causes the diversity and quantity of Canadian dairy products available to Canadian consumers to be:

Having a limited supply of dairy in Canada insures that all households can afford this necessity.

Where are the dairy farms least competitive?

The report says: "Canada's dairy industry has set quotas for domestic producers."

True or false: This mean that there is a minimum level of the dairy products sold in Canada must have been produced by Canadian farmers.

Hint: check your notes on quota system; you need to know what the term means.

The Canadian government reluctant to revoke supply management and endorse more competition because it will result in higher dairy prices in Canada.

The decrease in the number of dairy farms in Canada from 1971 to 2016 means that small family farms have been replaced by large corporate farms in the dairy industry.