Second Phase Of Industrialization

Question 1

What natural resources provide material for industries during the second phase of industrialization?

Answer 1

• fast flowing rivers (strong hydroelectric potential)

- copper, water, timber, silver, gold, zinc and asbestos

Question 2

What sectors of natural resource processing were growing?

Answer 2

• ore processing
• pulp and paper
• hydroelectricity
• electrometallurgy
• electrochemistry

Question 3

What factors in the development of the second phase of industrialization continue from the National policy?

Answer 3

• protectionist policy of high customs duties on imported products
• large influx of immigrants created a large labour force

Question 4

What other factors help develop the second phase of industrialization?

Answer 4

• wheat became the largest export
• foreign trade with the USA and UK intensified
• First World War created a lucrative war industry

Question 5

Describe the impact that the war had on industrialization (War Industry)

Answer 5

• canadian industrial sector increased its production of military equipment
• factories operated at maximum capacity
• increase in shipbuilding and agricultural production

Question 6

What is monopoly capitalism?

Answer 6

Monopoly: complete control over a specific economic sector
Capitalism: economic development by private enterprise where business owner controls means of production (very little government intervention)

Question 7

What two strategies did companies in Quebec use to maximize their profits? (Monopoly capitalism)

Answer 7

• acquire competing companies in order to attain exclusive rights to market a product
• acquire the companies that were contractd to perform the taskes required to manufacture a product

Question 8

Describe economic liberalism

Answer 8

• provincial liberal government left the exploitation of resources to private enterprise
• granted subsidies($) and developed infrastructure to attract foreign investment
• private companies paid royalties (% of profit) to the provincial government and created jobs

Question 9

Who was the premier of Quebec in 1897-1900?

Answer 9

• Félix-Gabriel Marchand

- liberal

Question 10

What did economic development depend on?

Answer 10

• industrialization
• job creation
• exploitation of natural resources

Question 11

Describe trade in Canada during the second phase of industrialization

Answer 11

• exported large quantities of pulp and paper to the US
• wheat and flour was mostly exported to Europe and US
• during WW1, farmers increased production to meet UK’s food needs
• exports grew but foreign trade balance was sometimes negative (buy more than sell)