Unit Three – Economic Issues in Canadian Geography Fish Water Land Forests Mineral Wealth

How does the economy influence life in Canada? Natural resources play an important role in Canada’s economy. The location of resources influences local economies and where people live. Natural resource development affects the natural environment

Our Natural Resources Resource Anything that can satisfy a human need or want.

RESOURCES To be considered a resource, three criteria must be met: 1) A society must have a need for it 2) A society must have the technology to use it. 3) It must be profitable to develop it.

Can Natural Resources Last Forever?? Resources found on the land or in the water. (fish, trees, water etc) Three types of resources: Renewable resources Non renewable resources Flow resources chart pg.239

Renewable Resources A natural resource that can be used to benefit people and can then be replaced for other people to enjoy. Renewable resources include Fishery & Forestry

Non Renewable Resources A resource that is in limited supply and cannot be replaced again . We will eventually run out of this non-renewable resource. Non-renewable resources are fossil fuels, such as coal, petroleum and natural gas as well as minerals.

Flow resources These include water & wind They must be used where and when they occur Ex. Wind energy can only be generated in a place where the wind blows continually

Sustainable use of natural resources refers to a mode of human development in which resource use aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come. Questions pg 241

Needs/Wants Every product we buy comes from natural resources. Pg. 240 How many pairs of jeans/shoes does one need? Do you have enough things to meet your basic needs? What do you think is the difference between NEEDS and WANTS?

Imports vs Exports Imports are goods and services brought into Canada from another country Exports are good and services produced in Canada and sold to other countries Chart pg 242

Economic Perspective Canadians have higher incomes than people in most other parts of the world. A major economic indicator used to measure the value of all goods and services produced is called Gross Domestic Product (GDP)

Gross Domestic Product It includes: All money exchanges within a country Includes personal & business income Natural resources contribute 13% of Canada’s GDP