1. Resource Rich Nations Why are the U.S. & Canada so wealthy?

2. Gross Domestic Product (GDP)  The total value of all goods & services produced by a country in a year.  U.S. GDP is the world’s highest, $13.8 trillion. (Canada $1.2 trillion)  http://www.economist.com/blogs/dailychart/2011/01/us _equivalents http://www.economist.com/blogs/dailychart/2011/01/us _equivalents

3. An abundance of diverse natural resources Mining  Large amounts of many different minerals.  Copper, lead, gold, titanium, uranium, iron ore, zinc, coal, petroleum, etc.

4. An abundance of diverse natural resources Land  U.S. 3 rd largest country in area (Canada 2 nd )  Historically land has acted as a pressure release valve for population growth.

5. An abundance of diverse natural resources Climate  The U.S. & Canada possess a wide range of climates, many of which are good for farming.

6. An abundance of diverse natural resources Forests  Wood is the basis for many products.  Only 5% of old growth forests remain.

7. Moving resources, goods, people, & ideas easily Travel over water  3 coastlines allow imports & exports to move easily & quickly.  Many navigable rivers & canals enable goods to move freely within the country.

8. Moving resources, goods, people, & ideas easily Movement on land  The U.S. & Canada have well developed networks of railroads & highways.

9. Moving resources, goods, people, & ideas easily Air Travel  More flights daily than any other nation.  More airports than any other nation.

10. Moving resources, goods, people, & ideas easily Telecommunications  Newspapers, telegraph, telephone.  Radio, television, cable.  Cell phones, satellites, internet.

11. Respecting the individual Democracy  Emphasizes the value & freedom of the individual’s opinion.

12. Respecting the individual Rugged Individualism  The willingness of individuals to stand alone in a long, difficult struggle in order to prosper, relying on their own personal resources, opinions & strength.

13. Respecting the individual Free Enterprise  Capitalism allows individuals to own operate, & profit from their own businesses in an open, competitive marketplace.  Provides an incentive to work hard.