Economy: Citizenship Test Practice Questions
Economy is one of the seven topics in Discover Canada, the official guide every real test question comes from. It covers: Canada's economy, its major industries and trading partners, and the regions that drive the country's prosperity.
Of the 280 questions in our practice bank, 20 are Economy questions. On a typical 20-question test you can expect roughly 1 from this topic. Below are 9 sample questions with answers and explanations to show you exactly what to prepare for.
Sample Economy Questions and Answers
Try each question before expanding the answer. Every question below also appears in one of our free practice tests.
1. What are the three main types of industries in Canada?
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Explanation
The three main types of industries in Canada are service industries, manufacturing, and natural resources. These sectors form the backbone of Canada's diverse and highly developed economy.
2. Which type of industry employs the most Canadians?
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Explanation
Service industries employ the most Canadians. This sector includes retail, education, health care, finance, communications, and government services, making it the largest employer in the Canadian economy.
3. What is Canada's largest trading partner?
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Explanation
The United States is Canada's largest trading partner. The two countries share one of the world's largest and most comprehensive trading relationships, with billions of dollars in goods and services crossing the border each day.
4. What was Canada's economy historically based on?
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Explanation
Canada's economy was historically based on farming and exporting natural resources such as fur, fish, and timber. The fur trade, in particular, was one of the earliest and most important economic activities that drove European exploration and settlement of Canada.
5. When was the Hudson's Bay Company founded?
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Explanation
The Hudson's Bay Company was founded in 1670, making it one of the oldest commercial corporations in the world. It played a central role in the fur trade and the exploration and development of large parts of Canada.
6. When did the Montreal Stock Exchange open?
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Explanation
The Montreal Stock Exchange opened in 1832 and was Canada's first stock exchange. It played a pivotal role in the development of Canada's financial markets and economy.
7. When was the Bank of Canada established?
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Explanation
The Bank of Canada was established in 1934 as Canada's central bank. It was created to manage the money supply and bring stability to the Canadian financial system during the Great Depression.
8. Which industry is a significant part of the Canadian economy, with millions of visitors coming to Canada each year?
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Explanation
Tourism is a significant part of the Canadian economy. Canada attracts millions of visitors each year who come to experience its natural beauty, including the Rocky Mountains, Niagara Falls, and national parks, as well as its vibrant cities and rich cultural heritage.
9. Which provinces are known for their forestry industry, producing pulp, paper, and softwood lumber?
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Explanation
British Columbia, Quebec, and Ontario are the provinces most known for their forestry industry. These provinces have vast forests and are major producers of pulp, paper, and softwood lumber, making forestry one of Canada's most important export industries.
Practise Economy Until It Sticks
The app has 14 dedicated category tests, so you can practise Economy questions on their own. All 16 mock exams, every question in 13 languages, and weak-spot tracking, all in the app.