Canada’s Economy

Canadian Money

What is Canadian Currency Called?

The proper name for Canadian currency is the Canadian dollar.

Some other nicknames include buck and loonie

Type of Economy?

Canada has a mixed market economy

What is a mixed market economy?

A mixed market economy uses more than one economic system.

What does Canada produce?

Canada is rich in natural resources. What are they?

ANSWER: timber, gold, oil, nickel, diamonds, lead, and uranium.

Canada is one of the biggest producers of wheat in the world!

Who Does Canada Produce For?

United States United Kingdom

Japan0%

10%

20%

30%

40%

50%

60%

70%

Economic Trade for 2006

Trade Barriers

What is a trade barrier?

Name examples of physical barriers. rivers, lakes, oceans, and mountains.

Name examples of economic barriers. tariffs, taxes, and quotas.

What are Canada’s Trade Barriers?

Physical Trade Barriers

Canada has few physical trade barriers with the United States.

Physical Trade Barriers…

Canada must cross large bodies of water or fly long distances to trade anywhere else in the world other than North America.

What is N.A.F.T.A?

N.A.F.T.A.- North American Free Trade Agreement.

What did it do? Eliminated tariffs on goods traded between The United

States, Canada, and Mexico.

Gives Canada incentive to trade with the United States.

How do We Benefit from Trade?

The United States- all of the valuable natural resources that Canada

has to offer! oil, gold, diamonds, and lumber

Canada- many things that the United States produces. Examples include automobiles, steel, airline

industry, computers, electronics, and mining.

Neighbors of the North

Quiz What is a Loonie?

What did N.A.F.T.A. do?

Name two physical trade barriers that Canada has with the United States?

How does the United States benefit from trade with Canada?

What is an economic trade barrier?