The Economy The Canadian economy is known as a service economy. Most workers (75%) are in some kind of service industry. Canada is also considered to be a free market economy where goods are produced and sold by its citizens. The economy is driven by what is called supply and demand. When there is demand and the supply is low, prices rise. But when demand is low and supply is high. Prices stay steady or fall.

The Economy For the economy to function, goods and services must be sold for more value than what it cost to produce them. There is very little government intervention or influence in our kind of economy. Canada is ranked somewhere around the tenth largest economy in the world. Canada has a sizeable manufacturing sector due to logging and oil. Our currency is known as the Canadian dollar.

The Economy Canadian exports include: Motor vehicles, industrial machinery, chemicals, plastics, electricity, aluminum, natural gas, and many more. 75% of these goods are exported to the United States & 4% to Great Britain. Canadian imports include: Machinery equipment, crude oil, wood, textiles, glassware, base metals, etc. Canada imports 50% of its goods from the United States, 11% from China, 6% from Mexico. *Based on 2010 statistics