Canada's Economy

In the Canadian economy private property rights are respected and there is limited government control of economic activity. Based on this description, where would the Canadian economy be placed along the economic continuum?

• Point A

• Point B

• Point C

• Point D

How are the economies of Canada, Mexico, and the United States similar or different?

• Canada is a pure market economy, while Mexico and the United States are mixed economies.

• Canada is a pure command economy, while Mexico and the United States are mixed economies.

• All are mixed economies, but Canada is more market-oriented than either Mexico or the United States.

• All all are mixed economies, but Canada is more command-oriented than either Mexico or the United States.

Which numbered section of the diagram represents countries whose economies are primarily market-based?

• 1

• 2

• 3

• 4

Why type of economy does the description MOST resemble?

• command economy

• mixed economy

• market economy

• traditional economy

What industry/trade was extremely profitable in the early years of colonial Canada?

• fishing

• mining

• fur

• timber

What role do natural resources play in Canada's economy?

• They have no significant impact

• They are the only source of income for Canada

• They contribute significantly to exports and economic growth

• They are mainly used for domestic consumption and not for export

Which industry is NOT mentioned as a key part of Canada's economy?

• High-tech

• Textiles

• Energy production

• Automobile

List 1 of Canada's Industries.

Which country in the diagram has the MOST free economy?

• Cuba

• Mexico

• Canada

• United States

Type of economy that Canada has

• traditional

• command

• market

• mixed