Canada’s EconomyCanada’s Economy

Canada at WorkCanada at Work►What is the connection between the Earth’s resources

and the Canadian economy?

► Economy - human activities that are related to the - human activities that are related to the production, distribution, exchange, and consumption of production, distribution, exchange, and consumption of goods and services and services

► GDP – Gross Domestic ProductGDP – Gross Domestic Product (the total value of all the (the total value of all the goods and services in a country, not including foreign investment)goods and services in a country, not including foreign investment)

► The GDP of Canada is $1.8 trillion…..orThe GDP of Canada is $1.8 trillion…..or$1,800,000,000,000$1,800,000,000,000

► Canada’s GDP per capita (person) is around $36,000Canada’s GDP per capita (person) is around $36,000

Comparing Canada’s GDP Comparing Canada’s GDP To OthersTo Others

Country GDP per capita (person)

USA $46,000

Bolivia $4,400

Honduras $3,300

Germany $34,400

United Kingdom $46,000

Somalia $600

The economy of Canada is made up of The economy of Canada is made up of FOURFOUR different parts:different parts:

1.1. Primary IndustriesPrimary Industries – businesses that collect – businesses that collect natural resources from the land, underground, or natural resources from the land, underground, or water (e.g. forestry, fishing, oil)water (e.g. forestry, fishing, oil)

2.2. Secondary IndustriesSecondary Industries – businesses that use – businesses that use raw materials and make (raw materials and make (manufacturemanufacture) them ) them into something more valuable (e.g. paper, into something more valuable (e.g. paper, gasoline)gasoline)

3.3. Tertiary IndustriesTertiary Industries – businesses that provide – businesses that provide services to other industries (e.g. schools, hair services to other industries (e.g. schools, hair salons, grocery stores, movie rental outlets…)salons, grocery stores, movie rental outlets…)

4.4. Information (Quaternary) IndustriesInformation (Quaternary) Industries – – businesses that use and process information businesses that use and process information (e.g. BlackBerry, Perimeter Institute…)(e.g. BlackBerry, Perimeter Institute…)

The end….The end….