Economic Systems
The government has full control of this economic system.
Command
Which sector would a miner or farmer belong to?
Primary
What is used to measure the quality of life in countries?
HDI
Canada's top 3 trading partners are...
USA, China, Mexico
'Wealth' means...
the total value of a country’s resources, which includes material goods, natural resources, and human resources.
Canada has this type of economic system.
Mixed
Which sector focuses on the manufacturing of natural resources?
Secondary
What does HDI stand for?
Human Development Index
What type of products does Canada get from Mexico?
Fruits and vegetables
'Quality of Life' means...
The general well-being or happiness of a person or society, as measured the meeting basic needs
What is a market economy?
Prices set by private companies. government has limited involvement
Which sector is known as the service sector?
Tertiary
The average number of years that a person is expected to live is known as what?
Life expectancy
What is one of the main products Canada gets from the United States?
Cars and automobile parts
An economy is...
a system by which goods and services are produced, sold, and bought in a country or region.
Give an example of a traditional economy
Inuit communities in Canada
Which economic sector is the most important?
They are all equally important
The percent of the population that can read and write a simple sentence or do basic math calculations is known as what?
Literacy rate
What does Canada export to the USA?
Oil and lumber
What is GDP and what does it stand for?
Gross Domestic Product- The total value of all goods and services produced in a country in a year
What is a mixed economy?
both government and private businesses make decisions
Spell the third AND fourth economic sectors
Tertiary and Quaternary
List 6 quality of life indicators.
Access to education
Access to healthcare
Access to clean water
Birth rate
Death rate
Income
Child mortality rate
Literacy rate
Life expectancy
Poverty rate
Infant mortality rate
GDP
How does international trade help Canada's economy grow?
By allowing businesses to sell goods and services to other countries
What is an 'indicator'?
Something that can be observed or measured