Do Now- Discuss what you know about the provinces and territories with the person sitting next to you!

Do Now

Essential Question What makes Canada’s economy diverse?

Define the vocabulary. Export Import Protectionism Free Trade Economic Indicators – Give examples of this

export Goods sent for sale to other places.

Import Goods brought in for sale from other places.

protectionism A government policy that calls for some type of action, such as raising tariffs (prices), to protect a market from imports (goods brought in for sale). These laws taxed imports. Thus, the imports cost more so the people bought less of them.

Free trade Trade without limits or protections. In 1994, Canada, Mexico and United States signed North American Free Trade Agreement (NAFTA)

Economic indicator A measure of a countries economy and how well its people live. GDP, per Capita GDP, Literacy Rate, Unemployment Rate, exchange rate

Canada’s Economic Regions Atlantic Provinces Ontario and Quebec Prairie Provinces British Columbia Territories (Yukon, Northwest, Nunavut)

In the Economic Region column, identify the Provinces or Territories that are in each region. Atlantic Provinces- Nova Scotia, Prince Edward Island, New Brunswick, and New Foundland and Labrador Ontario and Quebec- “Heartland of Canada” Prairie Provinces- “Breadbasket of Canada” Alberta, Manitoba, and Saskatchewan

Economic Regions Continued British Columbia- British Columbia Territories- 40% of the Land Yukon, Northwest, and The Nunavut

Check your work. Primary Industry 3% of the workforce Atlantic Provinces: Farming, mining, fishing Prairie Provinces: wheat farms, cattle ranches, fossil fuels such as coal, oil, and natural gas. British Columbia: fishing, forestry Territories- fishing, hunting, and mining

Secondary Industry 13% of the workforce -Atlantic Provinces- manufacturing and processing plants -Ontario and Quebec- factories of consumer goods and products from steel and iron. -British Columbia- processing lumber and manufacturing paper. - production of hydroelectric power

Tertiary Industry 76% of the workforce Atlantic Provinces: shipping, tourism -Quebec, Ontario and Montreal : shipping through St. Lawrence Seaway, Trading, and Business Activities -British Columbia- shipping and recreational activities

United States Canada Mexico GDP 16.24 Trillion (1) 1.518 Trillion (14) (RANK IN THE WORLD) United States Canada Mexico GDP 16.24 Trillion (1) 1.518 Trillion (14) 1.845 Trillion (11) GDP Per Capita $51,700 (13) $43,100 (19) $15,600 (88) Unemployment 7.3% (94) 7.1% (75) 4.9% (45) exchange rate 1.03 Canadian Dollar 12.76 Pesos

Notes on back of Economic Indicators Chart Canada’s economy is based on free enterprise. Canada also has a command economy where the government controls certain businesses and industries. (Healthcare) 2/3 of their trade is with the United States 1994 Canada joined United States and Mexico in NAFTA (North American Free Trade Agreement)

Do Now Discuss the following question with a neighbor: How does the population and geographic regions affect Canada’s economy? Write your answer on the back of the 1st page of your packet.