Understanding the Canadian Economy

The Canadian economy is highly developed and ranks 10th globally in GDP. It is driven by a strong service sector and abundant natural resources, making it an energy superpower. Canada is a major exporter, particularly to the US, and enjoys high economic freedom. The economy is heavily reliant on natural resources, which vary by region, affecting both domestic and international relations. Sustainability is a concern, with past overutilization issues in fisheries. Despite this, Canada's economy remains robust, with ongoing resource discoveries and a need for conservation policies.

What is the value of the Canadian dollar in USD as mentioned in the video?

• 0.850 USD

• 0.700 USD

• 0.800 USD

• 0.760 USD

Which industry employs the majority of Canada's labor force?

• Mining

• Manufacturing

• Agriculture

• Service

What position does Canada hold in terms of the value of its natural resources?

• 2nd

• 1st

• 3rd

• 4th

Which industry is NOT mentioned as important in Canada's private sector?

• Textiles

• Logging

• Automobile Manufacturing

• Oil

What percentage of Canada's total exports in 2009 was made up of forestry, mining, energy, and agriculture?

• 70%

• 45%

• 30%

• 58%

Which country is Canada's largest trading partner?

• China

• United States

• Mexico

• United Kingdom

How do natural resources affect Canada's regional economic structures?

• They make all regions economically identical.

• They lead to diverse economic structures across regions.

• They cause economic instability.

• They have no impact on regional economies.

What is a major concern related to Canada's natural resource industries?

• High taxation

• Overemployment

• Depletion of resources

• Lack of international trade

What was a consequence of overutilization in the 1990s for Canada's fishing industry?

• Introduction of new fish species

• Expansion of fishing areas

• Collapse of the cod fishery

• Increased fish population

What is necessary for the conservation of Canada's natural resources?

• Elimination of the service industry

• Reduction in exports

• Strong conservation policies

• Increased resource extraction