Economic Systems of Different Countries

Topics: People's Republic of China, Communism, Canada Pages: 4 (1337 words) Published: October 8, 1999
Economic Systems of Different Countries


The Government of Canada is a Federal Parliamentary Democracy and a member of the Common Wealth. The Prime Minister of Canada is the Honorable Jean Chretien. The Deputy Prime Minister is Sheila Copps and the Governor General is Romeo LeBlanc. There are five major political parties in Canada they are; the Progressive Conservatives, the Liberal Party, New Democratic Party, the Reform Party, and the Bloc Quebecois.

The GNP per capita (1991) was $19,934 (in millions). The annual GNP growth was 3.4%. The amount of GNP for defence was 2.2%. The majority of workers in Canada are in the Service field (73%), Industry has 23% of the workers, and Agriculture has the remaining 4% of the labour workforce. Canada has an unemployment rate of 9.5% and an inflation rate of 2.3%. Canada's top three natural resources are Nickel, Zinc and Copper. Canada's top three agricultural products include Wheat, Barley, and Corn. The three major Canadian industries are automobile manufacturing, lumber industry, and petroleum products. Canada has a healthy trading market with major partners such as the United States, Mexico, and Japan. The top three imported products are vehicles, foodstuffs, and animal feed, while the three major exports include vehicles, petroleum products and natural gas. Canada's exports vastly outweigh their imports. The balance of trade is $9,823,000,000 (more exports than imports).

Canada's economy is a market economy based on free enterprise and the ideology of capitalism. As a Canadian citizen you are free to buy and sell as you please on the open market, so long as you are within the law. Since Canada is a democratic state we are guaranteed these rights and freedoms. Canada has a very efficient economy. We have an unemployment rate of only 9.5% and a reasonably small inflation rate. Canada has been rated as one of the best countries in the world – Coincidence?

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