1. Chapter 4 - Lesson 1C Land and People
Canada

2. Canada’s Economy pg
Canada is a developed nation with all four industries and is considered a first world country
Canada’s GDP is about 2 trillion dollars in relation to the U.S.’s GDP of 17 trillion dollars this seems low but it is high in relation to the rest of the world’s GDP
Canada ranks 11th in the world in GDP making it one of the wealthiest countries in the world

3. Canada’s Economy pg
Imports – goods brought from other countries
Exports – goods sold to other countries
Imports – goods brought from other countries
Exports – goods sold to other countries
Canada’s primary industries include mining for copper, gold, iron nickel, and uranium
It also includes farming, trees, fishing, and fossil fuels
Canada’s secondary industries is
not as varied as its primary
industries, focusing mostly on
turning trees into lumber, paper, pulp,
and paper products and the other
is making finished products for
Canadian consumption

4. Canada’s Economy pg
Today most of Canada’s economy comes from the tertiary and quaternary industries such as finance, tourism, trade, and recreation
3/4ths of Canadians are employed in a service-type job

5. Canada’s Economy pg
Canada’s economy is based on free enterprise just like the U.S.
This means that businesses are privately owned and are free to set prices and sell items they choose to sell
However, Canada also has parts of a command economy because the government controls certain businesses and industries, called Crown corporations
One such Crown corporation of Canada is the Health Care System of Canada
The Canadian government provides healthcare for all Canadian citizens

6. Canada’s Economy pg
Canada is a country with a rich history in international trade of imports and exports
In the past Canada believed they should trade within the country instead of with other countries and set up a trade policy of protectionism
Canadian government protected Canadian businesses by taxing imports thus making it cheaper to buy from local businesses
Protectionism – a government policy that calls for some type of action to protect a market from imports pg

7. Canada’s Economy pg
Free trade – trade without limits or protections
Protectionism in Canada hurt Canadians by helping businesses because many items people wanted were not available
In 1994 Canada joined the U.S. and Mexico in the North American Free Trade Agreement (NAFTA)
This agreement opened Canada to more trade with countries and increased the products available to Canadians

8. Canada’s Standard of Living pg 141
As a result of Canada’s strong economy its people enjoy a high standard of living
A country’s standard of living is an economic indicator
A country’s standard of living is found by checking its GDP and its total population
When you take the GDP and divide it by the population you get the GDP per capita or per person
This is the average income of a country’s citizens
The U.S. and Canada worked on making the Seaway by digging deeper into the river and creating a series of canals and locks to allow large ships to pass through
Economic indicator – the measure of how well people live

9. Canada’s Standard of Living pg 141
Canada’s GDP is about 2 trillion dollars and its population is about 40 million people
So the per capita GDP is about $52,000 in the U.S. it is $53,000
Two other ways a country’s standard of living may be measured is:
Literacy rate – 94%
Life expectancy - 81

10. How has Canada’s trade policy changed?
(pg.140)
What are three important measures of a country’s standard or living?
(pg.141)

11. Remember
Import
Export
Free trade
Protectionism
Economic indicator