Canadas Economy
description
Transcript of Canadas Economy
![Page 1: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/1.jpg)
Canada’s Economy
Unit 5 Notes
![Page 2: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/2.jpg)
3 Economic Questions…
What to Produce?– Businesses decide and government approves/denies it
How to produce it?– Businesses decide & government regulates
procedures
For whom to produce?– Businesses decide based on supply & demand (price)
Which economic system does Canada have?…
![Page 3: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/3.jpg)
Canada’s Economic System
Canada has a Mixed economic system– It’s actually pretty close to a Market economy;
however, there is some government regulation among industries
Canada is economically strong
![Page 4: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/4.jpg)
Canada’s Physical Trade Barriers
• Northern Canada: glaciers & ice block trade by land and water.
• Western Canada: Rocky Mountains also block trade & travel.
![Page 5: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/5.jpg)
North American Free Trade Agreement (NAFTA)
1993—Canada, USA, & Mexico signed a treaty to eliminate trade barriers between the countries– They now have free trade, which allows goods to
flow freely among the countries
Some Canadians don’t agree with NAFTA:– Fear that their economy is too dependent on the US
– Worry that American economy will dominate the partnership
![Page 6: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/6.jpg)
Canada’s Natural Resources
What’s available?– Iron ore, nickel, zinc, copper, gold, lead,
molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, hydroelectric power
![Page 7: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/7.jpg)
Canada’s Land Use
What percentage of the land is arable (capable of being farmed)?– 5% (only in Southern Canada; Northern Canada’s
terrain is permafrost!)
What are the major agricultural products?– Wheat, barley, oilseed, tobacco, fruits, vegetables,
dairy products, forest products, fish
![Page 8: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/8.jpg)
Canada’s Industries
What’s being produced in the factories?
– Transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas
![Page 9: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/9.jpg)
Canada’s ExportsChief exports:– Motor vehicles & parts, industrial
machinery, aircrafts, telecommunications equipment, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum
Exports total (2007): $431.1 billionTop exporting partners: US (79.3%), UK (2.8%), China (2.1%)
![Page 10: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/10.jpg)
Canada’s ImportsChief imports:– Machinery & equipment, motor vehicles &
parts, crude oil, chemicals, electricity consumer goods
Imports total (2007): $386.4 billion
Top importing partners: US (54.4%), China (9.4%), Mexico (4.2%)
![Page 11: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/11.jpg)
Canada’s Literacy Rate
What percentage of people over the age of 15 can read and write?– 99%
How long are students required to stay in school?– 17 years
![Page 12: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/12.jpg)
Canada’s Unemployment Rate
What percentage of people do not have jobs?– 6%
What percentage of people live in poverty?– 10.8%
![Page 13: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/13.jpg)
Canada’s GDP
$1.271 trillion (2007)
GDP Per Capita--What is the value of goods and services produced per person?– $38,600 (2007)
![Page 14: Canadas Economy](https://reader035.fdocuments.net/reader035/viewer/2022070304/54c36c584a79594a6f8b456f/html5/thumbnails/14.jpg)
Canada’s Economic ProblemsUnemployment & poverty
Over depletion of natural resources
Acid rain from factories near Great Lakes region
Improving public services (which forces the country to raise taxes)