Canada & Voluntary Trade

Voluntary trade occurs when countries choose to engage in the _________ with one another.

• money

• exchange of goods

Countries trade goods because no country has __________ necessary to produce all its people needs.

• all the resources

• all the money

Specialization occurs when 1 nation can produce good/service at a ________ than another nation.

• lower cost

• higher cost

Specialization is an ________ to work, and the cost of items produced is lower.

• harder way

• efficient way

Because many countries specialize & trade globally, consumers around the world have access to a _________ of goods/services.

• lesser amount

• much wider range

• same amount

The Canadian Shield has an abundance of valuable _________, such as oil, metals, & minerals.

• money

• rivers

• natural resources

Canada specializes in the ________ of natural resources.

• extraction & refining

• molding

• burying

(a)   (used for paper) are some Canada's top exports.

The _______ (vehicles, parts, and machinery) also plays a large role in Canada's economy.

• money

• automobile industry

• textile

Trade barriers are natural or man-made _______.

• obstacles to voluntary trade

• rivers

• roads