Canadaeconomics

By: Avery Evans

Canada operates under the free enterprise economy.

Individuals and groups (not the government) control businesses and industries

Fertile soil, numerous waterways, a favorable climate, and high tech equipment have made Canada one of the world’s top food producers.

Canada has developed a large industrial economy.

Natural resources such as oil, coal, natural gas, and valuable minerals (copper, iron ore, nickel, silver, and gold) are found in Canada.

Livestock, grain, vegetables, and fruits are raised by the region’s farmers.

Cattle is raised by the region’s in eastern Ontario or southern British Columbia.

Canada’s government plays a more direct role in the Canadian economy.

Examples: Canada's national and provincial governments provide health care for citizens.

Broadcast, transportation, and electric companies are heavily regulated.

These public services are even available in Canada's remote areas.

Today People are more likely to work in offices instead of factories.

Most are employed in service industries like banking, communications, entertainment, insurance, and health care.

The location of industries, jobs, and people is influenced by geography.

They are located near the ocean, US-Canadian borders, and oil and coal deposits.

Eastern Canada

Fishing has been the major industry in the Newfoundland, Labrador, and the Maritime Provinces.

The waters of the Grand Banks have been over fished.

The government regulates how many fish may be caught.

As a result, fewer Canadians make a living from the sea.

Today, most people in the Maritime Provinces hold jobs in manufacturing, mining, and tourism.

Halifax is a major shipping center.

Quebec and Ontario

Manufacturing and service industries are dominate in Canada’s largest province.

Montreal is an important port city, as well as, a major financial and industrial center.

Ontario has the most people and greatest wealth.

It produces more than half of Canada’s manufactured goods.

Southern Ontario has fertile land and a growing season long enough for farming.

Farmers grow grains, fruit, and vegetables and raise beef and dairy cattle.

The Prairie Provinces and British Columbia

Farming and ranching are the major economic activities.

They produce large amounts of wheat, most of which is exported.

Some of the world’s largest reserves of oil and natural gas are found in Alberta and Saskatchewan.

Newsprint (from forests), timber, mining industry, fishing, and tourism are strong economic activities for British Columbia.

Vancouver is a bustling trade center and Canada’s main Pacific port.

NAFTA

About $1 billion worth of trade passes between the US and Canada each day.

In 1994 Canada, the United States, and Mexico entered into the North American Free Trade Agreement (NAFTA) to remove trade barriers among the three countries.

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