Canadian Economy
Canada has this type of economy, combining markets and government involvement.
What is a mixed economy?
Inflation, employment, and interest rates are part of this business environment.
What is the economic environment?
This country is Canada's biggest trading partner.
What is the United States?
A tax placed on imported goods is called this.
What is a tariff?
The first step in the entrepreneurial process is to do this.
What is identify opportunities?
Businesses and people can own property in this type of economic system.
What is private enterprise?
AI, automation, and digital technology are part of this environment.
What is the technological environment?
In 2025, about 72% of Canada's goods exports went to this country.
What is the United States?
The recent U.S. tariffs create more of this for Canadian businesses when planning.
What is uncertainty?
A business owned by one person is called this.
What is a sole proprietorship?
Energy, mining, forestry, and agriculture are examples of this part of Canada's economy.
What are natural resources?
Taxes, laws, and government regulations are part of this environment.
What is the political-legal environment?
Canada ranked this position in the 2025 Global Innovation Index.
What is 17th?
Tariffs can increase the cost of products. Businesses may respond by changing their suppliers or this.
What is their supply chain?
A business owned by two or more people is called this.
What is a partnership?
Finance, education, health care, and retail are examples of this sector.
What is the services sector?
Customer tastes, values, and expectations are part of this environment.
What is the socio-cultural environment?
Toronto, Montréal, and Vancouver are examples of these in the global innovation system.
What are innovation clusters?
Selling products in more countries is one way Canadian businesses can respond to tariffs.
What is market diversification?
A business that is a separate legal entity from its owners is called this.
What is a corporation?
Canada has a large country but a relatively small one of these.
What is a domestic market?
These four environments can all affect business decisions. Name one.
What are economic, technological, political-legal, or socio-cultural?
One major challenge for Canada is improving this: how much output workers produce.
What is productivity?
Canadian companies can use this trade agreement to help maintain preferential access to the U.S. market when they meet its rules.
What is CUSMA?
A business owned by its members and democratically controlled is called this.
What is a co-operative?