ECONOMY IN QUEBEC TODAY: AN OVERVIEW

Textbook pgs. 140-143

4 a) Export: Goods/Services which Quebec sells to other countries (Ex: Hydroelectricity, Copper, Zinc, Pulp & Paper products, Aluminum)

4 b) Import: Items which Quebec buys from other countries (Ex: Petrol, Coal, Asphalt, Automobiles + Parts, Electronics)

5) Why does it make sense for countries to trade with another? Because we each may have things which the other does not. together!) (Think back to Algonkian and Iroquois trading

6) Study document #2 on page 140. What types of products does Quebec import the most? Why do you think that is?

- Quebec mostly import fuels, minerals, oils, cars, equipment, and more. - Why? Because we don’t have them here and/or other countries can make it for cheaper

7)

SUPPLY DEMAND

8)

The aim of the market economy is to meet the NEEDS of the

population while taking into account the available

RESOURCES in a region. The production of goods or services

in a market economy is done by COMPANIES and

INDIVIDUALS who have the capital ($) and MEANS of

production available to them. Their aim is to make a PROFIT.

The place where producers and consumers meet is called the

MARKET. This is an important intermediary between the two

since it determines the PRICE of the goods and services being

traded.

9) While the market economy advantages many in society, who does the system not take into consideration? What does this lead to?

- Those who cannot contribute to production (i.e. people unable to work)- This leads to INEQUALITIES

10) Primary: Sector of the economy based on the

exploitation of natural resources. Ex: agriculture, forestry, mining, etc.

Secondary: Sector of the economy based on the processing of raw materials. Ex: industries, construction, etc.

Tertiary: Sector of the economy that includes all services. Ex: business, financial, education, health care, electrician, etc.

11) Look at document #4 on page 141. Which sector contributes the most to economic activity in Quebec? Does that surprise you? Explain.

- Tertiary sector (71.3%)- Does it surprise you? Think of the most common jobs you know of? What do you want to be when you grow up? Does our class follow a similar breakdown?

13) Do you think this sector has been the most important throughout the history of Canada? Do you think that in early periods of our history a greater percentage of jobs may have been found in other sectors? Explain your answer.

Definitely not...the nature of the economy evolves over time. In the early years, people were mostly farmers, fur traders, loggers, etc. so the PRIMARY sector was more important. Later on (late 1800s) when factories started the SECONDARY sector became more important.

14) How have natural resources helped in the development of the Quebec economy?

Quebec is rich in them and has gained revenue ($) by exploiting some natural resources (ex: copper, gold, zinc, hydro power). We also process raw materials into finished products (ex: timber into pulp & paper products).

15) Why are major cities in Quebec important economic centres for the province? What can they provide that other cities cannot? What are some examples of major economic hubs in Quebec?

-They provide the majority of services and are home to industry.-Workers are attracted to big cities for jobs AND companies are attracted to big cities because they can find skilled workers and services. -Major hubs in Quebec are Montreal, Quebec City, Gatineau, and Trois-Rivieres.

16) Examine document #6 on page 142. Is unemployment in the province distributed evenly throughout the different regions? Why do you think that is?

- NO!- Because some regions (especially outlying areas) often depend on a single industry or natural resource. The lack of economic diversity means that if there are problems in that one industry, the entire region suffers.

17 a) What are the main economic activities in Montreal? - Public service, Commercial & Financial Services, Manufacturing, Tourism.b) How does this compare with economic activities in some outlying regions?- Outlying regions depend mostly on natural resource exploitation.c) What are the main economic activities in our administrative region?- Agriculture, Dairy Production, Hydroelectricity, Mining, Manufacturing, Tourism.

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