Canada's Economic System

Canada has a free market economy. A free market economy allows people to freely buy, sell, and produce what they want, with limited government interaction. Canada is also split into four economic regions, Atlantic, Central and Eastern, the West, and the North. In the Atlantic Provinces, fishing is the major industry. Because of overfishing, however, the area has moved to manufacturing, mining, and tourism. In the Central and Eastern regions, the paper and lumber industry are important to the region. It is also the leading financial and industrial center. To the West, farming and ranching are major activities in the region. This area produces large amounts of wheat to export. They also have the world’s largest natural gas and oil reserves.

In today’s world many things are changing, so why would it be bad if Canada change their mixed economic system to a market system? To have an opinion on this topic, first, you have to understand what the difference is between a mixed and market economy. A mixed economy is where the people have equal power as the government, and the country can have publically owned company (owned by the government) or privately owned (owned by people). A market economic system is when the people have majority of the control compared to the government.

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).

Canada is currently sitting at a population of over 30 million people and is ranked 11th in the world in terms of exports (Canada: Economic Freedom, 2017). The economy in the country seems to be thriving very well with many skilled workers and plenty of jobs for most individuals in the civilian labor force. For the most part, Canada has always done pretty well in terms of having a successful economy. Starting in the early 50s Canada was thriving primarily off of the waterways unlike today the country thrives off selling petroleum, cars, and other things other countries need and want. Although this shift from a farm based economy too much more industrialization did not happen until after the Great War, it wasn't until the 1920s until Canada

Canada’s form of government can be described as three different levels; the federal government, provincial and territorial governments, and municipal (local) governments. Canada also has a Constitutional Monarchy and a Parliamentary meaning Canada recognizes Queen Elizabeth II as the head of the state, their prime minister, Justin Trudeau, as the head of the government and the governor general as the representation of the queen in Canada.

Government is organized in 3 levels, which includes Queen of Canada who is Canada’s formal head of state then House of Commons and the power is in Prime Minister’s Hand.

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.

5 Canada is a resource rich country. Although Canada is physically vast, most of the population is located in the Great Lakes region and along the Saint Lawrence River. This is due to the geographic limitations on where people can live. However, due to the geographic limitations, it means that the natural resources throughout the country can be accessed more fully. The key to Canada's economy is its role as a resource base for exports of minerals and ore, forestry products and

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.

Canada (/ˈkænədə/ (About this sound listen); French: [kanadɑ]) is a country in the northern part of North America. Its ten provinces and three territories extend from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres (3.85 million square miles), making it the world's second-largest country by total area and the fourth-largest country by land area. Canada's southern border with the United States is the world's longest bi-national land border. The majority of the country has a cold or severely cold winter climate, but southerly areas are warm in summer. Canada is sparsely populated, the majority of its land territory being dominated by forest and tundra and the Rocky Mountains. It is highly

Thirdly, the oil industry is still going down, also it impacts Canadian economy. Because oil is Canada's largest export. Price is expected to decrease in the future; one famous financial analyst is predicting prices will be $20 and even $10 a barrel.

Canada’s Economy is based mostly on natural resources such as fur trade, farming, fishing, forestry, and mining. The history of Canada’s economy goes back to the 16th century when the French and British came to Canada and traded iron tools, weapon and other good with the First Nations people for fur, beaver mostly. The fur where exported back to Europe and Canadian Codfish was dried and salted and sent to Europe as well.

The role of Crown corporations in a capitalist economy can be likened to that of the concept of state capitalism. State capitalism is defined as the widespread influence of the government in the economy, by owning majority or minority positions in companies or through the provision of subsidized credit and or privileges to private companies (Musacchio & Lazzarini, 2012, p.3-4). Canada’s use of state capitalism has been instrumental in addressing the geography obstacles and the giant in the south (the U.S.) through the implementation of various Crown corporations. Making state intervention in the economy a norm and sometimes and expectation of the government. This continuity and acceptability Canadians have for state intervention, distinguish

anada is filled with many natural resources such as fossil fuels, mineral, and lumber. Having so many different types of natural resources helps improve the economy of Canada and living in a country with a high economy means you will have better public services since the government will have a lot of tax money. With better public services you will have better schools and health care.Canada has one of the best health care system and the better the health care system the longer you will live and it will improve the quality of life since you can easily treat diseases. Canada's natural resources place a big role on Canada's economy. Around 20% of the money made by natural resources directly and indirectly account for Canada's GDP. The natural resource

Up to the North of the U.S.A lies a great country whose landscape remains, for the most part, unscathed. Canada. It’s obvious, with its high economy, good relations with other countries, and low unemployment rates, that it’s one of the select countries in the G-8.