Foreign Trade

Why does Canada engage in foreign trade?

• To pay for imports

• To decrease the price of Canadian made goods

• To obtain products we can't grow here

• To keep our economy healthy

What country is our number one trading partner?

Which of the following statements is true:

• we have a trade deficit in products

• we have a trade surplus in services

• we have a trade surplus in products

• we have a trade surplus in products & services

What are taxes on imports called?

What countries do we trade with the most?

• Very high & high

• Medium

• Low

What are government payments to provide support to an economic sector (eg. agriculture) called?

Which of the following are responsible for putting African countries at a trade disadvantage?

• high tariffs

• difference in types of resources

• climate

• racism

Which of the following would be services that Canada imports and exports?

• travel

• finance

• cars

• oil

What is the capital of Nova Scotia?

These are given to American farmers so they can produce their products more cheaply, but they end up hurting African farmers in trade:

• subsidies

• pesticides

• tractors

• technology