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Canada is one of the world’s

most economically

advanced countries

Because of many natural resources and a hardworking

labor force, the U.S. has the world’s

most productive economy.

• It is how a society It is how a society makes, exchanges, makes, exchanges, and uses goods and uses goods and services. and services.

• Goods- stuff you Goods- stuff you buy because you buy because you need or want need or want

• Services- provided Services- provided by an individual or by an individual or companycompany

• The The US and Canada have a “Free US and Canada have a “Free Market” economy- Market” economy- people can have people can have their own businesses and property and their own businesses and property and make decisions about them.make decisions about them.

• Communist Economy- the government Communist Economy- the government controls and makes decisions for peoplecontrols and makes decisions for people

• Traditional Economy- decisions are Traditional Economy- decisions are based on customs or beliefs of culturebased on customs or beliefs of culture

• The U.S. is the The U.S. is the richestrichest country on earth country on earth $$$$$$

This is because of the This is because of the freedomfreedom people people have to spend and invest their money.have to spend and invest their money.

$?HOW DO YOU SPEND YOUR MONEY?$$?HOW DO YOU SPEND YOUR MONEY?$

If you had $100.00, what would you If you had $100.00, what would you chose to do with the money? Would chose to do with the money? Would you spend it? Start a business? Buy you spend it? Start a business? Buy something? Make a donation?something? Make a donation?

• Created by Canada Created by Canada and the U.S.and the U.S.

• Consists of miles of Consists of miles of canals, 15 locks, 3 canals, 15 locks, 3 dams, and many dams, and many hydroelectric power hydroelectric power stations that provide stations that provide cities with power. cities with power.

• Allows ships from Allows ships from the Atlantic Ocean the Atlantic Ocean to reach the Great to reach the Great Lakes ports. Lakes ports.

• NAFTANAFTA- North American Free Trade - North American Free Trade AgreementAgreement

• NAFTA is a NAFTA is a treaty between Canada, treaty between Canada, Mexico, and the U.S. that eliminates Mexico, and the U.S. that eliminates trade barriers. trade barriers. Without taxes and trade Without taxes and trade barriers, more people will want to buy barriers, more people will want to buy products from other countries. products from other countries.

• Some Canadians fear that their economy Some Canadians fear that their economy is becoming too dependent on the U.S. is becoming too dependent on the U.S.

• The U.S. trades with Canada more than The U.S. trades with Canada more than any other country. any other country.

• Geography DOES affect the economy! Geography DOES affect the economy! • In the US and Canada, different In the US and Canada, different

geographical regions create many geographical regions create many different jobs. different jobs.

• There are There are 55 economic regions economic regions in the U.S. in the U.S. The Northeast, the South, the Midwest, The Northeast, the South, the Midwest, the Interior West, and the Pacific. the Interior West, and the Pacific.

• There are There are 4 economic regions 4 economic regions in Canada.in Canada.

• This is where we live!This is where we live!• Made up of several large URBAN areasMade up of several large URBAN areas• Focus is on Focus is on business and trade business and trade

because in many places there is poor because in many places there is poor soil for farming.soil for farming.

• Also, lots of Also, lots of mediamedia, communication , communication companiescompanies

• BiotechnologyBiotechnology research- is the study research- is the study of cells to improve healthof cells to improve health

• Rich soil allows Rich soil allows farmersfarmers to grow to grow different crops, like corn, wheat, and different crops, like corn, wheat, and soybeans.soybeans.

• Mineral resources Mineral resources are found in this are found in this region, like iron ore, coal, lead, and zinc.region, like iron ore, coal, lead, and zinc.

• Used to have many Used to have many manufacturing manufacturing factories factories in the 1800’s, some have now in the 1800’s, some have now closed down. closed down.

• This region also has rich soil and is a This region also has rich soil and is a big area for agriculture or big area for agriculture or farming.farming.

• The South is also a popular place for The South is also a popular place for tourismtourism activities. activities.

• The grand scenery and The grand scenery and outdoor outdoor recreation recreation attract many attract many touriststourists..

• Mining, ranchingMining, ranching, and , and lumberinglumbering are other popular activities. are other popular activities.

• FarmingFarming-Fruits and Vegetables are -Fruits and Vegetables are important crops grown in fertile areas important crops grown in fertile areas of California, Oregon, and Washington.of California, Oregon, and Washington.

• Coffee grows in the rich Coffee grows in the rich volcanic soil volcanic soil of Hawaii.of Hawaii.

• Fish and timber Fish and timber are important are important resources in the Pacific region. resources in the Pacific region.

• Los Angeles is the world center of the Los Angeles is the world center of the movie industry, movie industry, entertainmententertainment. .

• Although Although fishingfishing used to be a major used to be a major industry, overfishing has weakened industry, overfishing has weakened the job market. the job market.

• Today many people have jobs in Today many people have jobs in manufacturing, mining, and tourismmanufacturing, mining, and tourism..

• Although Although fishingfishing used to be a major used to be a major industry, overfishing has weakened industry, overfishing has weakened the job market. the job market.

• Today many people have jobs in Today many people have jobs in manufacturing, mining, and tourismmanufacturing, mining, and tourism..

• OntarioOntario– Largest PopulationLargest Population– Greatest Wealth in CanadaGreatest Wealth in Canada– Center for Center for businessbusiness

• Quebec is well known for:Quebec is well known for:– Paper IndustryPaper Industry– Hydroelectric PowerHydroelectric Power– Many Many French-speakingFrench-speaking people in Quebec people in Quebec

want to secede from Canada, and become want to secede from Canada, and become their own country. their own country.

• Farming and ranchingFarming and ranching- produces - produces large amounts of wheat.large amounts of wheat.

• Contains some of the world’s largest Contains some of the world’s largest reserves of oil reserves of oil and natural gas.and natural gas.

• British Columbia province has deep, British Columbia province has deep, rich forests, and they are the world’s rich forests, and they are the world’s largest producer of largest producer of NEWSPRINTNEWSPRINT- - type of paper used to print type of paper used to print newspapers.newspapers.

• Canada’s north covers about 1/3 of Canada’s north covers about 1/3 of the country. the country.

• This area includes the Yukon Territory, This area includes the Yukon Territory, the Northwest Territory, and Nunavut.the Northwest Territory, and Nunavut.

• Many people who live in this area are Many people who live in this area are INDIGENOUS.INDIGENOUS.

• The main resources are The main resources are mineralsminerals like like gold and diamondsgold and diamonds..