Canada's Economy Flashcards
What is the largest trading partner of Canada?
United States
What percentage of Canadian exports are destined for the U.S.A.?
Over three-quarters
What is the significance of the Canada-U.S.A. trading relationship?
It is the biggest bilateral trading relationship in the world
What types of products does Canada export to the United States?
Energy products, industrial goods, machinery, equipment, automotive, agricultural, fishing and forestry products, and consumer goods
What is traditionally known as ‘the world’s longest undefended border’?
The Canada-U.S.A. border
What symbol represents the close ties between Canada and the United States at Blaine, Washington?
The Peace Arch
What are the inscriptions on the Peace Arch?
“children of a common mother” and “brethren dwelling together in unity”
How many Canadians and Americans cross the border each year?
Millions
Fill in the blank: Canada exports billions of dollars worth of _______ every year.
energy products, industrial goods, machinery, equipment, automotive, agricultural, fishing and forestry products, and consumer goods
True or False: Canada and the United States have a hostile relationship.
False
What is the primary engine of economic growth in Canada?
Commerce
Canada has always been a trading nation.
What significant trade agreement did Canada enact in 1988?
Free trade with the United States
This agreement was a major step in Canada’s trade policy.
Which countries were involved in NAFTA, enacted in 1994?
Canada, the United States, Mexico
NAFTA created a trading bloc with over 444 million people.
What ranking does Canada hold among the world’s economies?
One of the ten largest economies
Canada is also part of the G8 group of leading industrialized countries.
What percentage of working Canadians are employed in service industries?
More than 75%
Service industries encompass a wide range of job sectors.
List three areas where service industries provide jobs.
- Transportation
- Education
- Health care
Additional areas include construction, banking, communications, retail services, tourism, and government.
What do manufacturing industries produce?
Products to sell in Canada and around the world
Examples include paper, high technology equipment, aerospace technology, automobiles, machinery, food, clothing.
Who is Canada’s largest international trading partner?
The United States
This relationship is crucial for Canada’s economy.
What industries are included in Canada’s natural resources sector? (5)
- Forestry
- Fishing
- Agriculture
- Mining
- Energy
These industries have historically played an important role in Canada’s development.
How do natural resources industries impact Canada’s economy today?
Many areas depend on developing natural resources and a large percentage of exports are natural resources commodities
This reliance on natural resources continues to shape Canada’s economic landscape.
