The Canadian Economy: A Case Study

In 2015, Canada’s natural resource exports were valued at $231 billion with Canada ranking among the top 3 producers globally for Potash (1st), uranium (2nd) and (3rd) aluminum (Government of Canada). An addition, is that the forest sector directly accounts for around 20% of the income in the 171 municipalities across Canada (Central Intelligence Agency). The 3 industry sectors, primary, secondary and tertiary all began from resources found and made from the country’s landscape. These resources are either sold primarily, or are then manufactured or turned into forms of services which result in trade. Therefore, the basic fundamental for any industry and trade is the landscape of the country.

Currently, Canada is economically heavily dependent on larger economic countries for research and development and new technologies. Canada also has always been dependent on the extraction of its primary products for export to other countries. "As far back as 1963 as much as sixty percent of the manufacturing industry was owned by firms whose head office lay outside the region or in foreign countries" (www.Statisticscanada/local/stateprov/ont.html. October 5, 2001).

1. a) i) The content of the table is about Canada’s economic and financial situation divided into four sectors: real sector, fiscal sector, financial sector, and external factor. Each of the four sectors is divided into smaller categories. For example: real sector is divided into national accounts, production index, labor market, prices indices. The other three factors are also divided into smaller categories just like the real sector. In addition, this table has the most recent GDP to show the success of Canada’s economy. The overall goal of the data is to show Canada’s recent economic situation.

The province substantial natural resources have long been the mainstay of its economy such as a aerospace. Information and communication technologies, biotechnologies, and the pharmaceutical industry play leading roles. All of these industries have helped quebec become an economically dominant province within canada, second only to ontario, in economic output.

The Canadian Economic Flaw By: Andrew 9B For: Should Canada switch to a mixed economy Should Canada switch to a mixed economy or stay as a market economy? Each of these ways of life has their own unique benefits and downfalls. A mixed economy is an economy that has some government involvement as well as involvement from individuals and entrepreneurs. The production of goods in this system is based on what is needed as well as what the people want.

Regina’s economic boom. Even though the American economy declined in 2008, the Saskatchewan fortunes rose significantly. The high demand for natural resources such as potash and natural gas fueled the economic boom. In 2011, Saskatchewan bragged about having the lowest unemployment rate in Canada at 4.5 per cent. Regina tied with Guelph, Ontario with a 4.7 per cent in Canada and Saskatoon, SK came in fourth place with a 5.1 per cent. The Saskatchewan Government reported in the fall of 2011 that there were “more people working full time than ever before in the province’s history” (Woodwark & Wong, 2013, p. 191). Saskatchewan was leading all provinces in economic indicators such as housing starts, value of building permits, retail and wholesale

The economy of Newfoundland is failing. We are all grown, responsible adults, and it’s time we acknowledged it. Since the 1960s, Newfoundland has dealt with economic hardship because of declining fish stocks and varying world demand for many of our products. Fishing, pulp and paper manufacturing, and iron ore mining remain major activities. Though they bring in some money, they generally do not provide sufficient jobs or income to relieve us of our widespread poverty and a high rate of unemployment.

Over the years the Canadian government continuously tries to create multiple ways to help progress the economy. Currently the government is doing a poor job improving the economy, however, it has potential to positively develop in the future. The Canadian government is negatively influencing the economy due to the decrease in value of the Canadian dollar, lack of regulation on policies, and the current position of the business cycle in Canada. However, the Canadian government demonstrates potential improvements in the economy through the creation of job opportunities and decrease in governmental expenditure methods.

The manufacturing industry was once a very large part of Ontario’s economy. We are seeing more and more manufacturing businesses disappearing and moving elsewhere. Ontario has a great potential to be a manufacturing powerhouse but the current situation is not attractive for many companies: “If a particular country has a lower price, the other countries will buy” (DPE 134). Because of the current value of the Canadian Dollar, manufacturing companies in Ontario could potentially export to the United States and make a greater profit because of the dollar. This is not the case as Ontario has seen a drastic drop in its GDP in the past ten years because of many manufacturing companies setting up elsewhere3. There are many reasons why this is but a large factor is the minimum wage on Ontario. Ontario, like many other countries has a minimum wage that employers must pay to its employees. Many countries in Asia or Latin America do not have a minimum wage so employers can pay their employees significantly less4. As the government continues to raise concerns about raising the minimum wage once again many manufacturing businesses are becoming anxious about if they too should move to an off shore location as this could be a potential cost savings for their company. The government and its economists will need to continue to analyze to see if raising the minimum wage

Since universal suffrage, women have made tremendous economic and social progress in Canada. Canada has been called "a world leader in the promotion and protection of women's rights and gender equality," (Foreign Affairs and International Trade Canada). Yet a hundred years after universal suffrage, gender disparity continues to exist in Canada. Gender disparity is evident in the political, economic, and social spheres. Political disparity refers to the lack of adequate representation of women in local, provincial, and federal politics, resulting in continued political disenfranchisement and a lack of attention being paid to remedying the situation. Economic disparity refers to unequal pay between men and women in the labor market, economic dependency of women, and differential degrees of wealth and poverty. Social disparity refers to gender bias, sexism, and other sociological factors. Although Canada continues to rank relatively high in terms of most measures of gender parity, the nation can and should do more to ensure political, economic, and social equality.

Canadian Tire, Pizza Pizza, Loblaws, Sears, Tim Hortons and a lemonade stand. These are a few of over thousands of businesses that are providing Canadians with goods that are needed in their everyday lives. There are many responsibilities that businesses have to take care of besides making money. For instance, entrepreneurs rely on the labour market in order to make ends meet. However, Canadian’s ability to succeed through obtaining employment income manifests in an unequal manner. Specifically, Canadians involved in entrepreneurship have difficulty succeeding in the market. While entrepreneurship adds great value to the Canadian economy, entrepreneurs experience multiple challenges including government

The government has an enormous influence on the economy of its nation. As of November 2015, Canada will be under the leadership of Justin Trudeau and his Liberal party. The article predicts how the newly elected government will influence the Canadian economy. The government affects the economy through the manipulating the value of its currency, government bonds, and annual spending. Factors such as interest rates and government debt would affect a nation’s currency and consequently, the economy. Government bonds help determine interest rates. Annual spending on government projects, such as infrastructure, would increase the GDP (Gross Domestic Product) of a country. GDP increases will boost the economy.

In the recent few decades, Canada has shown significant progress in the overall framework and currently ranks tenth in the world regarding nominal GDP. The real estate industry is the most dominant sector, the country also is one of the largest exporters of natural gas and petroleum on the one hand

In my opinion, the top growth areas for Canada’s future trade are machinery including computers, electrical machinery and equipment, and aircraft /spacecraft. Essentially, I included all the industries that involve technology and the sciences because that is how civilization will advance. First of all, there are already predictions of what the future will hold with the advancement of technology, such as artificial intelligence, robots, and digital currency changes. For instance, we can already see how the internet, phones, and online banking has changed not only our lives but the potential of businesses. There was even a poll in the US, where 59% of Americans are optimistic about the coming technological and scientific changes, and how it

I will be writing about the difference between Canada economy and USA’s Economy. I will have three points about why they should be the same, Why they should stay the same, WHy they should be the same type of economy and The last paragraph is about the differences