1. The United States and Canada Today
Chapter 7, Section 1: The Economy

2. Important Vocabulary
Market Economy: people can own, operate, and profit from their own business.
Postindustrial: emphasis on service and high-tech businesses.
Central Business District: an area in cities with many office buildings and retail stores.
Retooling: process of changing old factories for new industries.
Commodity: goods made for sale.
Arable: land good for farming.

3. Vocabulary (Cont’d) Monopoly: total control of an industry.
Global Economy: merging of economies in which countries depend on one another for goods and services.
Trade Deficit: negative value of the difference between a country’s imports and exports.
Tariff: a tax on trade imports.
Trade Surplus: positive value of the difference between a country’s imports and exports.
Outsourcing: creating industries overseas to produce products.

4. Postindustrial Economy
Market, postindustrial economies.
Rising service and high- tech industries.
Manufacturing about 20% of the economy.

5. Agricultural Economy Commercialized farming.
U.S. uses more acres of land than Canada.
Operations in west, mid- west, and south.
Cattle, livestock, wheat, corn.

6. Transportation Rise in automobile usage. Need for more infrastructure
More air pollution.
Airplanes and railways for long-distance travel.

7. Communication & Trade Advanced communications. Global trade economy.
U.S. has a trade deficit.
Canada has a trade surplus.
NAFTA (1994).
Rise in outsourcing jobs.

8. Combatting Terrorism Enhanced border security. New monitoring plans.
Advanced intelligence sharing.

9. The United States and Canada Today
Chapter 7, Section 2: People and Environment

10. Important Vocabulary
Clear-cutting: removing forests when harvesting timber.
Overfishing: the amount of fish caught is more than can be naturally reproduced.
Acid Rain: damaging rain. Emissions mixing with water vapor in the atmosphere.
Smog: dangerous gases in the air. Harms air quality.
Eutrophication: water becoming rich with dissolved nutrients. Overgrowth of plants and algae; loss in water oxygen.

11. Managing Resources Reduced forests. Wetlands have disappeared.
Fish and wildlife affected.
Efforts to reverse trends.

12. Human Impacts Increase in pollution.
Acid rain, smog, and water pollution damages the environment.
Efforts to develop clean energy.

13. Future Challenges Worries about “global warming.”
Continued efforts to diversify energy sources.
Reliability and cost are issues going forward.