1. Economic Activities for U.S. & Canada World Geography Mr. Paul Farmer

2. Economic Systems Free-market economy ▫Freedom to own, operate, & profit from own businesses. ▫Laws protect private property rights, employment opportunities, & health/safety of workers. ▫Canada: govt. owns & administers many services such as broadcasting & healthcare. ▫U.S.: more private and non-govt. corporations

3. Agriculture Subsistence vs. Commercial ▫Most of the world has subsistence farming within their countries. ▫In the U.S. & Canada it is largely commercial. ▫Large corps. Make up 5% of farm ownership. ▫Most farms are still family owned & operated. ▫U.S. devote 1 bil acres of land to agriculture, Canada devotes 167 mil acres. ▫Only 2% of Americans & 4%of Canadians work in agriculture.  U.S. & Canada are the world’s leading producers for beef, dairy, corn, wheat, & grains.

4. Industry Cottage vs. Commercial Cottage Industries are businesses that employ workers in their homes. ▫For example: traditional crafts, shoe making, jewelry, woodcarvings, weaving textiles, pottery. Commercial Industry is organized as a business. ▫Manufacturing  Makes up 20% of the regions economy & workforce.  Manufacturing of auto, aerospace, aircraft.  Food-processing ▫Service  Makes up 75% of the regions workers.  Service jobs include government, education, health care, tourism, entertainment, banking, real estate, etc.

5. Trade NAFTA ▫Promotes free trade within North America, Canada, U.S., & Mexico Globalization ▫Increasing economic interdependence throughout the globe. ▫Backbone is trade. Outsourcing is turning over of production to a 3 rd party. ▫Example: Many large companies now outsource jobs such as call center services, e-mail services, & payroll. ▫Example: China is a major recipient of industrial work. India ranks 2 nd. ▫When outsourced work is located outside of a country it is often called offshore.