Review Questions
- What are the four sectors of the economy? Briefly describe the main activity of each sector.
- What is Gross Domestic Product (GDP) and what does it indicate?
- What three conditions must be met for a natural material to be considered a resource?
- Why have primary industries in the Atlantic region experienced decline?
- What are the three main natural resource industries in New Brunswick mentioned in the text?
- Describe the process of aquaculture and its purpose in the Atlantic provinces.
- What kinds of minerals were found at Voisey’s Bay and why is mining potentially harmful to the environment there?
- Explain the difference between first-stage and second-stage manufacturing, providing an example of each.
- What are some factors that influence where industries choose to locate?
- How does the “New Economy” differ from the “Old Economy” in terms of its main industries and the required education levels of the workforce?