WorksheetsEconomy of Canada
Total questions: 25
Worksheet time: 25mins
Canada has a ________ economy.
command
market
traditional
Businesses like banks, insurance companies, and real estate are a part of Canada's _________ __________.
federal government
financial sector
What did the North American Free Trade Agreement do?
allowed countries to specialize in goods they had a lot of
ended tariffs between the U.S. Canada, and Mexico
all of the above
Canada has a _______ ________ with the United States, meaning it exports (sells to other countries) more than it imports(buys from other countries).
(a)
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
What industry/trade was extremely profitable in the early years of colonial Canada?
fishing
mining
fur
timber
List 1 of Canada's Industries.
(a)
Which of the following best describes the term "economic growth"?
A decrease in a country's production of goods and services
A steady state of a country's production of goods and services
An increase in a country's production of goods and services
The movement of businesses out of a country
Why type of economy does the description MOST resemble?
command economy
mixed economy
market economy
traditional economy
The (a) is the total value of all the final goods and services produced in that country in a year.
What type of economy does Canada have?
mixed
command
traditional
market
In Canada, the currency is the Canadian
pound
dollar
franc
euro
What two areas does the Canadian government control in its mixed market economy?
grocery stores and the postal service
health care and the postal service
grocery stores and malls
trucking and the postal service
What is the primary natural resource exported by Canada?
A) Oil
B) Gold
C) Timber
D) Fish
Which Canadian province is known for its significant contribution to the country's oil production?
A) Ontario
B) Alberta
C) Quebec
D) British Columbia
What is the role of the Bank of Canada in the economy?
A) Regulating the stock market
B) Printing currency
C) Setting monetary policy
D) Collecting taxes
Which sector is the largest contributor to Canada's GDP?
A) Agriculture
B) Manufacturing
C) Services
D) Mining
What trade agreement replaced NAFTA in 2020?
A) CETA
B) CPTPP
C) USMCA
D) TPP
Which Canadian city is considered the financial hub of the country?
A) Vancouver
B) Montreal
C) Toronto
D) Ottawa
What is the main agricultural product of Canada?
A) Wheat
B) Rice
C) Corn
D) Soybeans
Which industry is a major part of Canada's economy due to its vast forests?
A) Fishing
B) Forestry
C) Mining
D) Agriculture
What is the economic impact of Canada's multicultural population?
A) It has no impact
B) It leads to a diverse labor market
C) It causes economic instability
D) It reduces trade opportunities
Which Canadian province is the largest producer of hydroelectric power?
A) Manitoba
B) Quebec
C) Alberta
D) Ontario
What is the significance of the St. Lawrence Seaway to Canada's economy?
A) It is a major source of fish
B) It provides a shipping route to the Atlantic
C) It is a tourist attraction
D) It is used for hydroelectric power
