This essay Economic Systems has a total of 1316 words and 9 pages.
ECONOMIC SYSTEMS ASSIGNMENT
The Government of Canada is a Federal Parliamentary Democracy and a member of the Common Wealth. The Prime Minister of Canada is the Honorable Jean Chretien. The Deputy Prime Minister is Sheila Copps and the Governor General is Romeo LeBlanc. There are five major political parties in Canada they are; the Progressive Conservatives, the Liberal Party, New Democratic Party, the Reform Party, and the Bloc Quebecois.
The GNP per capita (1991) was $19,934 (in millions). The annual GNP growth was 3.4%. The amount of GNP for defence was 2.2%. The majority of workers in Canada are in the Service field (73%), Industry has 23% of the workers, and Agriculture has the remaining 4% of the labour workforce. Canada has an unemployment rate of 9.5% and an inflation rate of 2.3%.
Canada’s top three natural resources are Nickel, Zinc and Copper. Canada’s top three agricultural products include Wheat, Barley, and Corn. The three major Canadian industries are automobile manufacturing, lumber industry, and petroleum products. Canada has a healthy trading market with major partners such as the United States, Mexico, and Japan. The top three imported products are vehicles, foodstuffs, and animal feed, while the three major exports include vehicles, petroleum products and natural gas. Canada’s exports vastly outweigh their imports. The balance of trade is $9,823,000,000 (more exports than imports).
Canada’s economy is a market economy based on free enterprise and the ideology of capitalism. As a Canadian citizen you are free to buy and sell as you please on the open market, so long as you are within the law. Since Canada is a democratic state we are guaranteed these rights and freedoms. Canada has a very efficient economy. We have an unemployment rate of only 9.5% and a reasonably small inflation rate. Canada has been rated as one of the best countries in the world – Coincidence?
The Government in Niger is a republic in which there is a President and a Prime Minister. The President of the Republic of Niger is Mahamane Ousmane. The Prime Minister is Hama Amadou. There are five major political parties. They are; The National Movement for the Developing Society, The Democratic and Social Convention, Nigerian Party for Democracy and Socialism, The Nigerian Alliance for Democracy and Progress, and The Union of Progressive Patriots and Democrats.
Niger has a Gross National Product per capita of $550 (in millions). There is an annual GNP growth of 1.4%, 0.1% more then the allotted funds for defence. The majority of the labour force works in agriculture (45%), the service field represents 39% of the workers, and the remaining 16% are employed in the industrial field, which is declining at a rate of 2.7% per year.
Niger relies on its three top natural resources, which are; Uranium, Coal, and Iron/Ore. The three main agricultural products are; Millet, Sorgum, and Pulses. Niger’s “major” industries are based in the fields of Cement, Beverages, and Beer. Niger is a country in which there are many more imports than exports. The three main imports are; foodstuffs, cereal, and sugar, while the three major exports are; Uranium, Foodstuffs, and Livestock. Niger is one of the world’s poorest countries. Their economy is centered on subsistence farming. Uranium, their major export through the 1970’s and 1980’s, revenue has dropped by 50% between 1983 and 1990 (end of cold war). Niger’s balance of trade is
$-58,000,000 and they carry a debt of $1.2 billion. One U.S. dollar is equal to $529 of their currency the Communaute Financiere Africane Francs.
Niger has a traditional economy similar to many other 3rd World Nations. Recent studies would suggest that 4/5 of their major exports relate to livestock and agriculture (hides and skins, vegetables). Their economy is very inefficient because of the fact that they import more than they export, although that is not always negative, a third world nation which remains in debt will never prosper.
Japan is a Constitutional Monarchy with a figure head of Emperor Akihito (son of Hirohito). Japan’s Prime Minister goes by the name of Tomiichi Murayame. There are three major political parties within Japan. These parties include the Liberal Democratic Party, the Japan Socialist Party, and the Democratic Socialist Party.
The GNP per capita for Japan is $25,469 (in millions), while having
Topics Related to Economic Systems
Economic Community of West African States, Niger, Republics, Balance of trade, Economy of Niger, Economy of Vanuatu
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