According to Economy Watch, Canada has a market-oriented economy similar to that of the United States. The Canadian economy differs from that of the United States because Canada focuses more on exporting goods than importing them. CanadaFAQ.ca notes that the primary industries that contribute to the economy are the service sector, agriculture, energy and manufacturing.Know More
Economy Watch notes that the advanced Canadian economy is unique because its primary industries are oil and logging. Canada is the 10th largest exporter of oil in the world and the third largest exporter of natural gas, as of 2010. The country has the 21st largest amount of proven natural gas reserves and second largest oil reserves in the world. Aircraft and automobile manufacturing are also large components of the economy. The low cost of labor and the comprehensive Social Security and healthcare systems sponsored for employees by the government make the country a good place for automotive and aircraft manufacturers to build manufacturing plants.
CanadaFAQ.ca notes that the country is also well-known for its wireless products and plastics production. Canada is a large exporter of organic foods to Europe, Japan and the United States. The country's cold climate and fertile soil provide optimal conditions for growing foods without the use of chemicals or pesticides.Learn more about Economics
Afghanistan has a primitive type of economy dependent on agriculture, the illegal opium trade and foreign aid. Though its abundance of natural resources such as natural gas, petroleum and many types of minerals has the potential to make it a wealthy nation, due to decades of war, little infrastructure exists with which to exploit this abundance.Full Answer >
The French economy is made up of both privatized and government-run sectors. It is considered to be very diverse.Full Answer >
The United States has a capitalist economy. Capitalism is an economic system in which businessmen privately own the means of production, which is referred to as capital. Free market competition dictates prices and production levels. Under the capitalist system, prices and salaries are determined by supply and demand. The government’s role in this system is to protect the rights of financial motivators of the economy.Full Answer >
As of 2014, South Korea has a market economy based on supply and demand. In a market economy, the decisions to invest, build and expand are based on what is needed for the country to operate at optimal levels.Full Answer >