On what was the Canadian economy primarily based during its early years?

On what was the Canadian economy primarily based during its early years?

• A. Manufacturing and services
• B. Raw materials and primary industries
• C. Technology and finance
• D. Trade and commerce

Answer: (B)

During its early years, the Canadian economy was primarily based on raw materials and primary industries. This focus stemmed from the natural resources available across the vast Canadian landscape, including timber, minerals, and agricultural products. The economy revolved around extracting and exporting these resources rather than developing a diversified industrial or service-based sector. The fur trade, for instance, was a significant component of early economic activity, alongside agriculture, which served the local population and provided exports. As the country evolved, other sectors began to develop, but the foundational reliance on primary industries established a significant aspect of Canada's economic identity during its formative years. Thus, the correct answer reflects the historical economic context of Canada during that period.

During its early years, the Canadian economy was primarily based on raw materials and primary industries. This focus stemmed from the natural resources available across the vast Canadian landscape, including timber, minerals, and agricultural products. The economy revolved around extracting and exporting these resources rather than developing a diversified industrial or service-based sector. The fur trade, for instance, was a significant component of early economic activity, alongside agriculture, which served the local population and provided exports.

As the country evolved, other sectors began to develop, but the foundational reliance on primary industries established a significant aspect of Canada's economic identity during its formative years. Thus, the correct answer reflects the historical economic context of Canada during that period.