What is the classification of Canada's economy??

Answer 1

The classification is Market Based Economy.

Throughout history every society has faced the fundamental economic problem of deciding what to produce, and for whom, in a world of limited resources. In the 21th century, two competing economic systems, broadly speaking, have provided very different answers: command economies directed by a centralized government, and market economies based on private enterprise. At the end of the 20th century, it is clear that, for people throughout the world, the central, command economy model has failed to sustain economic growth, to achieve a measure of prosperity, or even to provide economic security for its citizens.

Answer 2

Canada is a free market economy with slightly more government intervention than the United States, but much less than most European nations. Canada has traditionally had a lower per capita gross domestic product (GDP) than its southern neighbor (whereas wealth has been more equally divided), but higher than the large western European economies. For the last decade, after a period of turbulence, the Canadian economy has been growing rapidly with low unemployment and large government surpluses on the federal level. As such, the Canadian dollar has risen in value against most major currencies during the past five years.

Answer 3

Capitalist.