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Canada’s Economy. 3 Economic Questions… What to Produce? –Businesses decide and government approves/denies it How to produce it? –Businesses decide &

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Presentation on theme: "Canada’s Economy. 3 Economic Questions… What to Produce? –Businesses decide and government approves/denies it How to produce it? –Businesses decide &"— Presentation transcript:

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 –It does have Free Enterprise… Canada is economically strong!

4 Canada’s Foreign Exchange Rate The price of 1 country’s currency compared to another… –1 US dollar = 1.25 Canadian dollars –1 US dollar =.77 EU euros –1 Canadian dollar =.61 EU euros What does this mean? –The US economy is stronger than Canada’s; however, the economy of the European Union is stronger than both!

5 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

6 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

7 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

8 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 (2007): $431.1 billion Top exporting partners: US (79.3%), UK (2.8%), China (2.1%)

9 Canada’s Imports Chief imports: –Machinery & equipment, motor vehicles & parts, crude oil, chemicals, electricity consumer goods Imports total (2007): $386.4 billion Top importing partners: US (54.4%), China (9.4%), Mexico (4.2%)

10 Which country is Canada’s biggest trading partner?

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? –6% What percentage of people live in poverty? –10.8%

13 Canada’s GDP $1.271 trillion (2007) GDP Per Capita--What is the value of goods and services produced per person? –$38,600 (2007)

14 4 Factors That Effect Canada’s GDP Human Capital: Canada is investing in education & training (check out literacy rate!) Capital Goods: Canada is investing in new technology & building new factories Abundant Natural Resources Entrepreneurship

15 North American Free Trade Agreement Signed by the US, Canada, & Mexico in the mid-1990s Eliminated trade barriers between the 3 countries Free Trade between the 3 countries How has it affected Canada’s economy? –It eliminated trade barriers with US & Mexico, and allows them to trade more freely at a better cost

16 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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