Canada is one of the world’s largest economies, known for its natural resources, advanced industries, and strong trade relationships. With a high standard of living and a diverse workforce, the country plays a major role in the global market. Whether you’re a student preparing for a quiz or exam, or just looking to expand your knowledge, these General Knowledge (GK) questions will help you understand Canada’s economy and industries.
GK Quiz: Canada’s Economy and Industries
Question 1: What is the largest industry in Canada?
A) Technology
B) Manufacturing
C) Oil & Gas
D) Agriculture
✅ Answer: C) Oil & Gas – Canada is one of the world’s top oil producers, with Alberta’s oil sands playing a major role in the economy.
Question 2: What is Canada’s official currency?
A) Canadian Franc
B) Canadian Dollar
C) North American Peso
D) Canadian Pound
✅ Answer: B) Canadian Dollar (CAD) – The Canadian dollar is often called the “loonie” because of the loon bird on the $1 coin.
Question 3: Which sector employs the most people in Canada?
A) Agriculture
B) Manufacturing
C) Services
D) Mining
✅ Answer: C) Services – The service sector (including retail, healthcare, and education) accounts for nearly 70% of Canada’s workforce.
Question 4: Which country is Canada’s largest trading partner?
A) China
B) United Kingdom
C) United States
D) Mexico
✅ Answer: C) United States – Over 75% of Canada’s exports go to the U.S., making it the country’s biggest trade partner.
Question 5: What is Canada’s largest agricultural export?
A) Maple syrup
B) Wheat
C) Beef
D) Dairy
✅ Answer: B) Wheat – Canada is a top exporter of wheat and canola, supplying grain to countries around the world.
Question 6: What is the name of Canada’s stock exchange?
A) Wall Street
B) London Stock Exchange
C) TSX (Toronto Stock Exchange)
D) NASDAQ Canada
✅ Answer: C) TSX (Toronto Stock Exchange) – The TSX is one of the largest stock markets in the world.
Question 7: What major Canadian city is known as the country’s financial hub?
A) Ottawa
B) Vancouver
C) Montreal
D) Toronto
✅ Answer: D) Toronto – Toronto is home to major banks, stock markets, and business headquarters.
FAQs: Understanding Canada’s Economy
1. What are the biggest industries in Canada?
The top industries in Canada include:
- Oil & Gas – Alberta’s oil sands are a major part of the economy.
- Technology – Canada is a leader in AI, software development, and innovation.
- Manufacturing – Cars, aircraft, and machinery are top exports.
- Agriculture – Wheat, canola, and seafood are major exports.
2. Why is Canada’s economy strong?
Canada has a strong economy due to its abundant natural resources, skilled workforce, and trade agreements, especially with the U.S.
3. How does Canada make money?
Canada earns revenue from exports (oil, minerals, agricultural products, and technology), tourism, financial services, and trade agreements like the USMCA (United States-Mexico-Canada Agreement).
4. Is Canada a rich country?
Yes! Canada is one of the wealthiest nations, with a high GDP and standard of living.
5. What are some major Canadian companies?
Some top Canadian companies include:
- Shopify (E-commerce)
- RBC & TD Bank (Banking)
- Bombardier (Aerospace)
- Suncor Energy (Oil & Gas)
Final Thoughts: How Well Do You Know Canada’s Economy?
From natural resources to technology and finance, Canada’s economy is diverse and globally competitive. Whether you’re a student preparing for a quiz or just curious about Canada’s industries, these GK questions will help you understand how the country thrives.
💬 How many questions did you answer correctly? Share your score in the comments! 🇨🇦💰