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In order for Canada to trade with other nations, a system of ______________ must exist.
economic specialization
currency exchange
oil extraction and refining
Canadian dollar
embargo
voluntary trade
domestic
exchange rate
This is the approximate value of one nation’s currency in terms of another nation’s.
economic specialization
currency exchange
oil extraction and refining
Canadian dollar
embargo
voluntary trade
domestic
exchange rate
This is when a country focuses on a narrow range of products/services that can be produced most efficiently and cost-effectively.
economic specialization
currency exchange
oil extraction and refining
Canadian dollar
embargo
voluntary trade
domestic
exchange rate
This term which refers to the products or services originating in one’s own country; it is the antonym of foreign.
economic specialization
currency exchange
oil extraction and refining
Canadian dollar
embargo
voluntary trade
domestic
exchange rate
This is a block on all trade with another nation and may be employed for safety reasons or to punish another country for their policies.
economic specialization
currency exchange
oil extraction and refining
Canadian dollar
embargo
voluntary trade
domestic
exchange rate
Canada specializes primarily in what two industries?
economic specialization
currency exchange
oil extraction and refining
Canadian dollar
embargo
voluntary trade
domestic
exchange rate
This is when both partners freely agree to and benefit from the exchange of goods/services.
economic specialization
currency exchange
oil extraction and refining
Canadian dollar
embargo
voluntary trade
domestic
exchange rate
Canada uses the __________________ as its currency.
economic specialization
currency exchange
oil extraction and refining
Canadian dollar
embargo
voluntary trade
domestic
exchange rate
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