Unit 10 CSA Review - Economics Development of Canada

Which statement about the Canadian economy is true?

• The government makes most decisions

  regarding which goods to produce

• The government's regulations make it extremely

  difficult to start a business

• The government provides strong protections of

  business and property rights

• The government does not regulate the way

  goods are produced in any way

In what way is the mixed economy of Canada similar to a command economy?

• Very few private property protections

• Significant barriers to trading with other countries

• Not much competition between businesses

• Government controls some of the industries

In which good does Canada specialize so it can trade with other nations?

• Cotton

• Iron Ore

• Oranges

• Wood Pulp

What is one reason for people to exchange currency?

• Most people want to use American dollars to trade.

• Because countries have different currencies that are valued differently

• Most people want to use the Brazilian real to trade.

• They don't because people can use any currency at any business in the world.

Which nations are apart of the North American Free Trade Agreement? Select all that apply

• Brazil

• Canada

• The United Kingdom

• Mexico

• United States

What BEST completes the timeline?

• United States-Mexico-Canada-Agreement Signed

• Treaty of Versailles Signed

• North Atlantic Treaty Organization formed

• United Nations formed

Mr. Rodriguez decides to send each of his new employees to a training to teach them how to become better salesmen. This is an example of:

• Capital Goods investment

• Natural resources investment

• Human Capital investment

• Opportunity Costs investment

An insurance company in Toronto, Canada, wants to improve its efficiency. The company's leadership decides to buy new computers with updated programs. What did the company do?

• Capital Goods investment

• Natural resources investment

• improving their human capital

• encouraging entrepreneurship

What is the role of Canada's mineral resources in its economy?

• The country's economy benefits from the export

  of the minerals

• The country's economy relies on the continuous

  import of minerals

• The country can produce what it needs from its

  mineral resources and does not trade

• The country does not benefit from its minerals

  because mining them harms the environment

The government of Canada has very little restrictions to starting a new business. Taxes on small businesses are low, and the government enforces strong private property protections. What do the policies MOST encourage?

• emigration from Canada

• restricting trade

• investing in capital goods

• increasing entrepreneurship