I. Living in the U.S. and Canada Today A. The Free Market Economy – 1. In a free market economy, people are free to buy, sell, and produce whatever they want, with limited government involvement. a) Work wherever you want. b) Business owners and consumers. c) Business owners produce the products they think will make the most profits, or the most money after business expenses are paid. – 2. People also take part in a free market economy by investing in businesses.

I. Living in the U.S. and Canada Today a) People can buy stock, which represents part ownership of a company. b) Buying stock can be risky. c) Consumers can also save their money in a bank, which is safe behind government, guarantees, or promises. d) Stocks present a better return than savings accounts. – 3. A free market economy allows people to produce what they want. a) Resources determine what is made in a region.

I. Living in the U.S. and Canada Today B. The Northeast – 1. The Northeast is made up of several large urban areas. a) New York – business and trade. b) Boston – biotechnology, the study of cells to find ways of improving health. C. The Midwest – 1. The Midwest’s rich soil enables farmers to grow crops such as corn, wheat, and soybeans. a) Minerals found are iron ore, coal, lead, and zinc.

I. Living in the U.S. and Canada Today b) Towns like Cleveland and Detroit have made steel and automobiles. c) As factories became outdated, many closed and many lost their jobs. D. The South – 1. With its rich soils, the South relied on agriculture. a) The South has changed with diverse economies and populations. b) Houston, Dallas, and Atlanta = textiles, electrical equipment, computers, and airplane parts.

I. Living in the U.S. and Canada Today c) Texas, Louisiana, and Alabama produce oil and related products. d) In Florida, tourism and trade are major activities. E. The Interior West – 1. The Interior West has magnificent scenery and outdoor recreation that attracts many people. a) Dry but agriculture persists. b) In the past, lumber, ranching, and mining. c) Denver and Salt Lake City = information technology d) Albuquerque and Phoenix = tourism and service industries.

I. Living in the U.S. and Canada Today F. The Pacific – 1. Fruits and vegetables are important crops in the valleys of California, Oregon, and Washington a) Hawaii = sugarcane, pineapples, & coffee b) Fish, timber, and mineral resources. c) Alaska has huge oil resources. – 2. Many industries thrive in the Pacific area. a) Workers in CA and WA build airplanes and develop computer software. b) Los Angeles = movie industry c) CA has wide diversity (1/2 are Latino or Asian)

I. Living in the U.S. and Canada Today G. Atlantic Provinces – 1. Fishing was for many years a major industry in the Atlantic Provinces of Newfoundland and Labrador, Nova Scotia, Prince Edward Island, and New Brunswick. a) Overfishing has weakened the industry. b) Today people hold jobs in mining, manufacturing, and tourism. c) Halifax, Nova Scotia, is a major shipping center. H. Central and Eastern Region

I. Living in the U.S. and Canada Today – 1. Canada’s Central and Eastern Region includes the large provinces of Quebec and Ontario. a) Quebec = paper industry, hydroelectric power b) Montreal is a major port and financial and leading industrial center. c) Many of the French speaking people of Quebec would like it to separate from Canada. – 2. Ontario has the largest population and greatest wealth of Canada’s provinces. a) Major agricultural, mining, manufacturing, and forestry center.