Chapter 2 Economy Pg. 186-193 Flashcards
1
Q
What happened to Canada’s economy due to the reciprocity treaty?
A
Exports increased
Port area developped
2
Q
Name Canada’s first bank and the year it was founded
A
Bank of montreal 1817
Near port
3
Q
What year was the Lachine Canal opened? Why was it so important to the economy?
A
1825
1) it allowed poor people to settle in canadian cities
2) it helped create a Market
4
Q
What is a market
A
Where you have people, you need things
5
Q
Explain the term urbanization and describe the living conditions in the cities
A
Urbanization: growth of cities (jobs and entertainment) Close to factories Pollution No indoor plumbing Diseases
6
Q
Explain the reprocity treaty. Who was it between? What year was it signed? What did it state?
A
1854
Britain abandoned protectionism + preferential tariffs, so Canada East and West signed with the Usa to trade tax-free
