Canada's Economy Flashcards
7 cards from real CANADIAN practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Canada's Economy flashcards as text
Which three industries form the backbone of Canada's natural resource economy?
Answer: Forestry, fishing, and farming
Forestry, fishing, and farming are major natural resource industries that have long supported Canada's economy.
What is Canada's largest trading partner?
Answer: United States
The United States is Canada's largest and most important trading partner.
Which region of Canada is best known for its grain and wheat production?
Answer: The Prairie provinces
The Prairie provinces of Manitoba, Saskatchewan, and Alberta are known as Canada's grain-growing heartland.
What type of economy does Canada have?
Answer: A market economy with mixed private and public enterprise
Canada has a mixed market economy combining private enterprise with government services and regulation.
Which Canadian province is the leading producer of oil?
Answer: Alberta
Alberta produces the majority of Canada's oil, largely from its oil sands.
What does the term 'service industry' refer to in Canada's economy?
Answer: Jobs that provide services rather than produce goods
Service industries provide services such as retail, education, and healthcare rather than producing physical goods.
Which trade agreement replaced NAFTA between Canada, the United States, and Mexico?
Answer: CUSMA (USMCA)
The Canada–United States–Mexico Agreement (CUSMA), known as USMCA in the U.S., replaced NAFTA.