Chapter 2 Economy P.174-185 Flashcards
Which group came to quebec to trade with the canadians and make a profit?
British merchants
what policy did the britains follow?
Mercantilism
What is Protectionism and Preferential tariffs?
Protectionism: taxing foreign products to protect your econonmy
Preferential tariffs: Lower taxes on Quebec products sold in britain
What year was the Hudson’s Bay Company established?
1670
What year was the Northwest company created?
1783
What year did the Northwest Company and the Hudson’s Bay Company merge?
1821
What trade replaced the fur trade?
Timber trade
Why did Napolean’s blocksde in 1806 increase the timber trade?
Prevents other countries in europe from trading with britain so britain looks to Lower Canada for wood
Which of the three economic sectors developped quickly due to the timber trade?
Secondary
Why did Lower Canada experience an agricultural crisis?
Overpopulation which led to over use of soil and crops were failing
Many colonists left for the Usa
Why did many farmers turn their attention to dairy farming?
Dairy farming did not depend as much on the weather
The yield was great (milk, butter, cheese, ice cream)
Why was the market so important to the agricultural industry?
Farmer’s market allowed for networking
What is networking?
Meet people and you make connections
What year was the Hudson’s Bay Company established?
1670
What year was the Northwest company created?
1783
