canadian Canada's Economy 2 — Questions and Answers
Question 1: Which three industries form the backbone of Canada's natural resource economy?
- Forestry, fishing, and farming (Correct answer)
- Banking, insurance, and tourism
- Textiles, ceramics, and glass
- Shipbuilding, railways, and coal
Correct answer: Forestry, fishing, and farming
Forestry, fishing, and farming are major natural resource industries that have long supported Canada's economy.
Question 2: What is Canada's largest trading partner?
- United States (Correct answer)
- United Kingdom
- China
- Mexico
Correct answer: United States
The United States is Canada's largest and most important trading partner.
Question 3: Which region of Canada is best known for its grain and wheat production?
- The Prairie provinces (Correct answer)
- The Atlantic provinces
- Quebec
- British Columbia's coast
Correct answer: The Prairie provinces
The Prairie provinces of Manitoba, Saskatchewan, and Alberta are known as Canada's grain-growing heartland.
Question 4: What type of economy does Canada have?
- A market economy with mixed private and public enterprise (Correct answer)
- A purely command economy
- A subsistence economy
- A barter-only economy
Correct answer: A market economy with mixed private and public enterprise
Canada has a mixed market economy combining private enterprise with government services and regulation.
Question 5: Which Canadian province is the leading producer of oil?
- Alberta (Correct answer)
- Nova Scotia
- Prince Edward Island
- Manitoba
Correct answer: Alberta
Alberta produces the majority of Canada's oil, largely from its oil sands.
Question 6: What does the term 'service industry' refer to in Canada's economy?
- Jobs that provide services rather than produce goods (Correct answer)
- Only government jobs
- Farming and mining work
- Factory assembly lines
Correct answer: Jobs that provide services rather than produce goods
Service industries provide services such as retail, education, and healthcare rather than producing physical goods.
Question 7: Which trade agreement replaced NAFTA between Canada, the United States, and Mexico?
- CUSMA (USMCA) (Correct answer)
- TPP
- GATT
- EFTA
Correct answer: CUSMA (USMCA)
The Canada–United States–Mexico Agreement (CUSMA), known as USMCA in the U.S., replaced NAFTA.
canadian Canada's Economy 2
Which three industries form the backbone of Canada's natural resource economy?