Chapter 8: The Changing Canadian Economy

Bela C
Flashcards by Bela C, updated more than 1 year ago
Bela C
Created by Bela C about 6 years ago
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Flashcards on Chapter 8: The Changing Canadian Economy, created by Bela C on 06/09/2015.

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Question Answer
What are the 3 basic economic questions? What is to be produced? how is it to be produced? For whom is it to be produced?
Give an example of the 4 economic sectors Primary: fishing industry secondary: construction Tertiary: retail industry Quaternary: medical researchers
What stats do economists use to measure the health of an economy? GDP, GNP, Unemployment rates
What are the current economic activities of the 5 economic regions of Canada? North: diamonds Prairies: oil Atlantic: trapping/oil/gas Shield: minning/forestry Great lakes st. Lawrence: financial headquarter/manufacturing
Why did Americans establish branch plants in Canada? To bypass tariffs
What are some positives and negatives of NAFTA? Positives: Canadians became more aware of human right concerns, environmental problems, human labour issues around the world Negatives: Allow american businesses to exploit Canadian businesses and cause issues in terms with human rights, jobs could be lost if companies moved to places like latin america
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