U.S. & Canada: Economic Geography

Terms in this set (10)

What type of economic system does the United States and Canada have?
Free Enterprise Economy
What are the other names that by which the Free Enterprise Economy is known?
1) Free Market Economy
2) Market Economy
3) Capitalism
What is the level of economic development in the United States and Canada?
Developed nations
The majority of jobs in the United States and Canada are in what sector of the economy?
The service sector
What are the four levels of economic activity?
1) Primary
2) Secondary
3) Tertiary
4) Quaternary
What levels of economic activity does the majority of the economies of the United States and Canada operate at?
The tertiary and quaternary levels
What are some of the reasons the United States has developed into one of the strongest economies in the world?
1) Abundance of natural resources
2) Highly developed infrastructure
3) Wealth / capital investment
What "tool" does a developed nation have access to because of its wealth that a developing nation does creating a "digital divide" between them?
Technology
What is the name of the free-trade agreement between Mexico, Canada & the U.S.?
NAFTA - North American Free Trade Agreement
What is NAFTA designed to do for Mexico, Canada & the U.S.?
Increase trade and economic development between the member nations
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