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Canada's Economy: Questions, System, Trade, Resources, Industries, Exports, Imports, Literacy, Unemployment, GDP, Proble

Explore Canada's economy through 8 key areas: economic questions, system, trade barriers, NAFTA, natural resources, land use, industries, exports, imports, literacy rate, unemployment rate, GDP, and economic problems.

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Canada's Economy: Questions, System, Trade, Resources, Industries, Exports, Imports, Literacy, Unemployment, GDP, Proble

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  1. Canada’s Economy

  2. 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?…

  3. 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

  4. Canada’s Physical Trade Barriers • Northern Canada: glaciers & ice block trade by land and water. • Western Canada: Rocky Mountains also block trade & travel.

  5. 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

  6. 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

  7. 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

  8. 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

  9. Canada’s Exports • Chief exports: • Motor vehicles & parts, industrial machinery, aircrafts, telecommunications equipment, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum • Exports total (2011): $462.4 billion • Top exporting partners: US (73.7%), UK (4.2%), China (2.1%)

  10. Canada’s Imports • Chief imports: • Machinery & equipment, motor vehicles & parts, crude oil, chemicals, electricity consumer goods • Imports total (2011): $401 billion • Top importing partners: US (49.5%), China (10.8%), Mexico (5.5%)

  11. 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

  12. Canada’s Unemployment Rate • What percentage of people do not have jobs? • 7.5% (2011) • What percentage of people live in poverty? • 9.4% (2011)

  13. Canada’s GDP • $1.4 trillion (2011) • GDP Per Capita--What is the value of goods and services produced per person? • $41,100 (2011)

  14. Canada’s Economic Problems • Unemployment & poverty • Over depletion of natural resources • Acid rain from factories near Great Lakes region • Improving public services (which forces the country to raise taxes)

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