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Nature of Canada’s Economy

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Presentation on theme: "Nature of Canada’s Economy"— Presentation transcript:

1 Nature of Canada’s Economy

2 Economic Structure of Canada
Economic System The organization in which products and services are made and used up.

3 Consumers: people who use products and services.
The economy is made up of two different types of people: Producers: people who harvest, manufacture products or provide services. Consumers: people who use products and services.

4 How we categorize our economic industries
Primary Industries Secondary Industries Tertiary Industries Quaternary Industries Extracting Resources Services Delivering Resources Providing Intellectual Services Refining or Manufacturing Resources

5 Primary Industries -industries that harvest natural resources (natural resources: air, soil, water, oil, plants, rocks, minerals, wildlife) Examples of Industries: mining, forestry, oil and gas, agriculture, fishing, hunting, trapping

6 Natural Resource Industry
Provinces of Canada and their Primary Industries using natural resources Natural Resource Industry Newfoundland & Labrador Nova Scotia New Brunswick Prince Edward Island Quebec Ontario Manitoba Saskatchewan Alberta British Columbia Yukon Territory Northwest Territories Forestry X Water (Hydroelectric) Fishery Oil & Gas Agriculture Mining

7 Labour - Lower number of people employed than other industry levels due to mechanization of the job (one person per big machine) Skilled labour due to the specialization of the job (college diploma and apprenticeship)

8 Secondary Refining Industries
- process raw materials into industrial products Industries: Steel mills, paper mills, textile mills, plastic manufacturers, flour mill

9 Labour - Larger number of people employed than primary industry but still lower than manufacturing industry Some college skilled labour (steel milling), Often industry trained labour

10 Secondary Manufacturing Industry
-process industrial products into goods Industries: car makers, garment industry, furniture makers, industrial bakers

11 Labour - Larger number of people in a factory
Often industry trained labour, low skill labour

12 Tertiary Industry -provide services and distribution of final products to the market Industries: retail sales, utilities, public administration, communications, health care, restaurants, etc…

13 Labour Large number of people employed in this industry
Labour skill varies: Low skill labour (ex cashier), college trained (ex. chef, paramedic), University trained (ex. accountant, pharmacist)

14 Quaternary Industry -provides intellectual services
Industries: Scientific research, information technology, consultants,

15 Labour Small of people employed in this industry
Very highly trained employees (many years of university)

16 Types of Industry Do more Canadians work… in agriculture?
or in education?

17 Types of Industry More than three times as many Canadians work in education than in agriculture!

18 Types of Industry Do more Canadians work… in transportation
and warehousing? or in forests and mining?

19 Types of Industry More than twice as many Canadians work in transportation and warehousing than in forestry and mining.

20 Types of Industry Do more Canadians work… in manufacturing?
or in wholesale and retail trade?

21 Types of Industry More Canadians work in wholesale and retail trade than in manufacturing.

22 Types of Industry Most Canadian workers are not lumberjacks, farmers, or miners (that was more than 50 years ago); nor are they factory workers (that ended with high tech in the 1980’s). Instead, most Canadians have jobs in which they provide an enormous range of services. But all parts of the economy are vital…

23 Case Study: The company you work for is Black and Decker. They close the factory in town. You have a town of people people work at Black and Decker. This one plant closure causes over 2500 to lose their jobs How do we get to 2500 losing their jobs if the plant only employed 500??

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