1. Canada's main exports are oil, natural gas, timber, minerals (such as copper and iron ore), automobiles and parts, and agricultural products 2. Agriculture
Fishing
Mining
Logging
Energy production (oil and gas) 3. Advantages: Create employment opportunities, boost economic growth, and attract foreign investment.
Disadvantages: Profits mostly flow to foreign parent companies, and the control over the local economy is reduced. 4. Retail
Education
Healthcare
Financial Services
Tourism
5. Absolute advantage: A country is more efficient than another country in producing a certain commodity.
Comparative advantage: A country has a lower opportunity cost in producing a certain commodity compared to other commodities.
6. A country with absolute advantage may focus on producing commodities with more comparative advantages due to limited resources, importing apples to optimize resource allocation and improve overall efficiency.