Quote: "a nominal GDP of approximately US$2.089 trillion."
The study of the Canadian economic system, including its industries, trade, finance, labour, and economic policies.
Economic Systems and Models: This topic provides a basic understanding of economic systems and their application in Canada, such as capitalism and socialism.
Economic Indicators: This topic involves learning about the various economic indicators that reflect the overall health of the Canadian economy, such as Gross Domestic Product (GDP), unemployment rate, inflation rate, and consumer price index.
Government Control and Intervention: This topic covers the role of government in controlling and regulating the economy, including fiscal and monetary policies, industrial policies, and subsidies.
Trade and Globalization: This topic encompasses the importance of trade and globalization for the Canadian economy, including free trade agreements, foreign investments, and trade relations with other countries.
Natural Resources: This topic delves into the significance of natural resources for the Canadian economy, including the extraction, processing, and distribution of natural resources such as oil, gas, and minerals.
Agriculture and Food Industry: This topic covers the importance of agriculture and the food industry for the Canadian economy, including farming practices, food production, and exports.
Service Industry: This topic involves learning about the service industry in Canada, including the retail, hospitality, and healthcare sectors.
Banking and Finance: This topic covers the importance of banking and finance for the Canadian economy, including the role of banks, stock markets, and investment.
Labour Market: This topic delves into the importance of the labour market for the Canadian economy, including the unemployment rate, minimum wage, and labor force participation rate.
Regional Economic Development: This topic includes learning about the regional economic development in Canada, including rural and urban development, regional policies, and infrastructure development.
Resource economy: The resource economy is the most significant sector of Canada. It is dependent on natural resources like oil, gas, minerals, and timber. Canada is the world's leading provider of the highest-quality forest products, uranium, and nickel.
Manufacturing economy: There is high equipment and technology employed by Canadian manufacturing businesses, which help improve the production process. Canada is known for manufacturing cars and aerospace. Some other important products produced by Canadian manufacturers are chemicals, plastics, and machinery.
Service economy: Canada's service sector covers more than 70% of its Gross Domestic Product (GDP). The service sector encompasses retail, finance, information technology, and tourism.
Agricultural economy: Focused mainly in the Prairie provinces which have optimal farmland conditions, Canada is a vast producer of wheat, barley, rapeseed, and corn. The agricultural industry is still a significant employer in Canada, although it only makes up a small fraction of the GDP.
Knowledge economy: The Knowledge economy is one of the fastest-growing sectors in Canada. It is defined by innovative research and development, creative thinking, education, and entrepreneurship. The knowledge economy includes intellectual property industries like technology, biotechnology, and pharmaceuticals.
Green economy: The Green economy is driven by renewable energy, sustainable farming practices, and other environmentally friendly businesses. Canada has dedicated to reducing greenhouse gas (GHG) emissions and developing cleaner energy sources. Recently, it has been offering incentives for investing in green technology.
Social economy: The Social economy is a broad category that involves non-profit, social enterprises, cooperatives and other sustainable models. These organizations rely upon the principle of social and environmental responsibility in their business initiatives. They mainly address social needs, but it is important to mention how their economic impact is essential to urban and rural communities.
Quote: "It is one of the world's largest trading nations, with a highly globalized economy."
Quote: "Canadian trade in goods and services reached $2.016 trillion."
Quote: "Canada had a trade deficit in goods of $22 billion and a trade deficit in services of $25 billion."
Quote: "approximately $391 billion originated from the United States."
Quote: "The Toronto Stock Exchange is the eleventh-largest stock exchange in the world by market capitalization."
Quote: "the Canadian economy is dominated by the service industry, which employs about three-quarters of the country's workforce."
Quote: "the forestry and petroleum industries are the most prominent components."
Quote: "Canada's economic integration with the United States has increased significantly since World War II."
Quote: "concerns over energy self-sufficiency and foreign ownership in the manufacturing sectors prompted the federal government to enact the National Energy Program (NEP) and the Foreign Investment Review Agency (FIRA)."
Quote: "The Canada – United States Free Trade Agreement (FTA) of 1988."
Quote: "As of 2023, Canada is a signatory to 15 free trade agreements with 51 different countries."
Quote: "Alberta hosts the fourth-largest oil reserves in the world" and "Canada is one of the few developed nations that are net exporters of energy."
Quote: "Canada has 13 percent of global oil reserves, constituting the world's third or fourth-largest."
Quote: "the Canadian Prairies are one of the most important global producers of wheat, canola, and other grains."
Quote: "southern Ontario and Quebec have a sizeable manufacturing sector."
Quote: "automobiles and aeronautics representing particularly important industries."
Quote: "The fishing industry is also a key contributor to the economy."
Quote: "Canada ranks low in the Corruption Perceptions Index (14th in 2023)."
Quote: "Canada's average household disposable income per capita is 'well above' the OECD average."