For centuries, what was Canada’s economy based mainly on?
- Automobile manufacturing
- Banking and insurance
- Farming and exporting natural resources such as fur, fish and timber
- High technology
Answer: Farming and exporting natural resources such as fur, fish and timber
For centuries Canada’s economy rested mainly on farming and on exporting natural resources such as fur, fish and timber. These goods moved by roads, lakes, rivers and canals. Canada’s first companies, formed under the French and British regimes, competed for the fur trade.
Learn more: Natural resources, past and present
- For centuries Canada’s economy was based mainly on farming and exporting natural resources such as fur, fish and timber.
- These goods moved by roads, lakes, rivers and canals.
- The first companies in Canada competed for the fur trade; the Hudson’s Bay Company came to dominate it in the northwest.
- Natural resources industries played an important part in Canada’s history and development.
- The economy of many areas still depends on developing natural resources.
- A large percentage of Canada’s exports are natural resources commodities.
- The discovery of oil in Alberta in 1947 began Canada’s modern energy industry.