1. What does Canada export to other countries? Canada exports gas, oil, hydroelectric power, wheat, flour, wood, and fish.
2. What are the five most common primary industries? The five most common primary industries are agriculture, fishing and hunting, forestry, energy, and mining. Water is also sometimes included.
3. What are some pros and cons to branch plants? Pros: More jobs for Canadian workers. They pay taxes to the Canadian government.
Cons: They do not innovate much and mainly follow orders from the head office. They often import materials from the head office country instead of using Canadian materials. They may not produce enough for Canada to export.
4. What are some examples of tertiary industries? Examples include banking, construction, communications, transportation, and retail.
5. What is the difference between absolute advantage and comparative advantage? Absolute advantage is about who can produce the most of a product. Comparative advantage is about who has the lower opportunity cost when producing a product.
6. Why might a country with an absolute advantage in making apples import apples from another country? Because the other country has a comparative advantage in making apples. Both countries can produce more overall if each focuses on what they make at lower opportunity cost.
1. What does Canada export to other countries? Canada exports gas, oil, hydroelectric power, wheat, flour, wood, and fish.
2. What are the five most common primary industries? The five most common primary industries are agriculture, fishing and hunting, forestry, energy, and mining. Water is also sometimes included.
3. What are some pros and cons to branch plants? Pros: More jobs for Canadian workers. They pay taxes to the Canadian government.
Cons: They do not innovate much and mainly follow orders from the head office. They often import materials from the head office country instead of using Canadian materials. They may not produce enough for Canada to export.
1. What are some examples of tertiary industries? Examples include banking, construction, communications, transportation, and retail.
2. What is the difference between absolute advantage and comparative advantage? Absolute advantage is about who can produce the most of a product. Comparative advantage is about who has the lower opportunity cost when producing a product.
3. Why might a country with an absolute advantage in making apples import apples from another country? Because the other country has a comparative advantage in making apples. Both countries can produce more overall if each focuses on what they make at lower opportunity cost.