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Canadas economy2012
 

Canadas economy2012

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    Canadas economy2012 Canadas economy2012 Presentation Transcript

    • Canada’s Economy Unit 5 Notes
    • 3 Economic Questions…What to Produce?– Businesses decide and government approves/denies itHow to produce it?– Businesses decide & government regulates proceduresFor whom to produce?– Businesses decide based on supply & demand (price)Which economic system does Canada have?…
    • Canada’s Economic SystemCanada has a Mixed economic system– It’s actually pretty close to a Market economy; however, there is some government regulation among industries– It does have Free Enterprise…Canada is economically strong!
    • Canada’s Foreign Exchange RateThe price of 1 country’s currency comparedto another…– 1 US dollar = .99 Canadian dollars– 1 US dollar = .77 EU euros– 1 Canadian dollar = .78 EU eurosWhat does this mean?– The currencies of the US and Canada are very close in value; however, the economy of the European Union is stronger than both since the euro is more valuable than both dollars!
    • Canada’s Natural ResourcesWhat’s available?– Iron ore, nickel, zinc, copper, gold, lead, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, hydroelectric power
    • Canada’s Land UseWhat percentage of the land is arable(capable of being farmed)?– 5% (only in Southern Canada; Northern Canada’s terrain is permafrost!)What are the major agricultural products?– Wheat, barley, oilseed, tobacco, fruits, vegetables, dairy products, forest products, fish
    • Canada’s IndustriesWhat’s being produced in the factories?– Transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas
    • Canada’s ExportsChief exports:– Motor vehicles & parts, industrial machinery, aircrafts, telecommunications equipment, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminumExports total (2011): $463.1 billionTop exporting partners: US (73.7%), UK(4.2%)
    • Canada’s ImportsChief imports:– Machinery & equipment, motor vehicles & parts, crude oil, chemicals, electricity consumer goodsImports total (2011): $460.7 billionTop importing partners: US (49.5%),China (10.8%), Mexico (5.5%)
    • Which country is Canada’s biggest trading partner?
    • Canada’s Literacy RateWhat percentage of people over theage of 15 can read and write?– 99%How long are students required to stayin school?– 17 years
    • Canada’s Unemployment RateWhat percentage of people do not havejobs?– 7.5%What percentage of people live inpoverty?– 9.4%
    • Canada’s GDP$1.395 trillion (2011)GDP Per Capita--What is the value ofgoods and services produced perperson?– $40,500 (2011)
    • 4 Factors That Effect Canada’s GDPHuman Capital: Canada is investing ineducation & training (check out literacyrate!)Capital Goods: Canada is investing innew technology & building new factoriesAbundant Natural ResourcesEntrepreneurship
    • North American Free Trade AgreementSigned by the US, Canada, & Mexico in themid-1990sEliminated trade barriers between the 3countriesFree Trade between the 3 countriesHow has it affected Canada’s economy?– It eliminated trade barriers with US & Mexico, and allows them to trade more freely at a better cost
    • Canada’s Economic Problems Unemployment & poverty Over depletion of natural resources Acid rain from factories near Great Lakes region Improving public services (which forces the country to raise taxes)