4. Where do most people choose to live & work in Canada & why? Most people choose to live & work in the southern part of the country. The reasons include: Warmer Climate, More Jobs Available, & Access to transportation corridors like roads, railways, airports, & unfrozen water

5. Where Do People Live & Trade?

6. What is “ECONOMICS” ? The study of how people manage their resources

7. What are the 3 Types of Resources? Natural Resources Human Resources Capital Resources

8. Today’s Standard(s) SS6E1 The student will analyze different economic systems. c. Compare and contrast the basic types of economic systems found in Canada, Cuba, and Brazil.

9. Intro to Our Essential Question…… What is the basic type of economic system found in Canada?

10. (R46) Canada’s Economy

11. Contributors to the Economy Canada is very rich in natural resources. It has an abundant supply of timber, minerals, & ores such as iron, lead, & gold

12. Contributors to the Economy The first Europeans to come to Canada did so for two main reasons: 1. Abundant Fishing 2. Fur Trading

13. Contributors to the Economy In the 1800’s, it was discovered that Canada had vast amounts of gold & other minerals. Many people came to Canada with dreams of becoming rich. Some did.

14. Contributors to the Economy Today, most Canadians work in the service or manufacturing industries. Canada’s abundant natural resources, skilled labor force, international trade relations have all contributed to Canada’s economy in positive ways.

15. Natural Resource Industry The prairie provinces of central Canada, have vast grasslands & rich soil. This makes it ideal for growing wheat & raising cattle.

16. Natural Resource Industry On the rich farmlands along the St. Lawrence River, farmers harvest grains, vegetables, & fruits.

17. Natural Resource Industry The east coast of Canada is ideal for growing potatoes & raising dairy cattle.

18. Natural Resource Industry The coast of Newfoundland is one of the most abundant fisheries in the world. Salmon caught on the pacific coast is also a boost to the economy.

19. Natural Resource Industry Much of Canada is covered in forests. This abundance of timber is a major contributor to the Canadian economy.

20. Natural Resource Industry In the northern territories, vast amounts of iron ore, gold, silver, copper, & other metals are mined.

21. Industry This term refers to any area or type of economic activity. Examples: Music Industry, Fast Food Industry, Steel Industry, Automobile Industry, Medical Industry, Communications Industry, etc.

22. Trade Trade is a very important part of Canada’s economy. Almost 80% of the natural resources produced in Canada are exported to other countries.

23. Export A product that is traded or sold to another outside country. In other words, its stuff that’s sent away.

24. Exports Some of Canada’s major exports include: wood & paper products, minerals, aluminum, wheat, & oil These raw materials & other manufactured goods are shipped all around the world.

25. Trade Canada’s biggest trading partner is the U.S. Most of Canada’s exports go to the U.S. In 1994, the U.S., Canada, & Mexico signed the NAFTA, which lowered trade barriers & increased trade.

26. Import Any product that is brought into a country from another country. In other words, its stuff that’s coming in.

27. Industry & the Economy Canada has a very well-educated workforce. Since WWII, Canada has shifted from a rural economy to an industrial urban economy.

28. Types of Industry Primary Prepare & process raw materials Examples Farms (Tyson Chicken), Mining Companies (BP), Logging Companies, Fisheries

29. Types of Industry SecondaryManufacturing- Turning raw materials into products that consumers or other businesses can use Examples Car Manufacturers (Ford), Bakeries (Two Smart Cookies), Furniture Makers (La-Z-Boy)

30. Types of Industry Tertiary Service Industries &DistributorsExamples Wholesalers (Sam’s Club), Transportation Companies, Retailers (Foot Locker), Health Care (Hospital), Education, Banking, Lawyers

31. Types of Industry Quaternary Pass on information Examples Communication Companies like Comcast (Cable/Internet) or At&T (Phone)

32. Industry & the Economy Most of Canada’s workforce works in the tertiary, or service industry. About 30% of the workforce works in the secondary, or manufacturing industry.

33. Transportation Because Canada is so large, it needs a strong transportation industry. Without this, Canada would have a hard time: *Importing & Exporting Goods *Importing & Exporting Goods *Moving Goods Across Canada

34. Transportation Corridors Canada has natural transportation corridors, or paths that make transportation easier. The St. Lawrence Seaway gives the interior access to the Atlantic & the Great Lakes provide a corridor for trade with the U.S. Canada’s trans-continental railway system crosses the country from coast-to-coast.

35. Transportation Barriers Canada also has transportation barriers, or geographic features that prevent or slow down transportation. In much of the north, snow & ice block travel by land & water. The Rocky Mountains in the west hinder transportation by land.

36. Return to Our Essential Question…… What is the basic type of economic system found in Canada?