Economics is a social science study that analyzes the production, distribution and consumption of goods and services. Economics focuses on the behavior and interactions of economic agents and how national economies function. There are two types of economics: microeconomics and macroeconomics. Microeconomics means small. Analyzes the basic elements of economics, including individual agents and markets, their interactions, and the outcomes of the interactions. It can include families, a particular company, buyers and sellers. Macroeconomics means big. It analyzes the entire economy and issues affecting the country, including unemployment, inflation, economic process, and different policies. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay With a population of over thirty million, Canada is one of the largest and strongest economies in the world. Canada enjoys a fascinating lifestyle, an excellent infrastructure, a highly educated and skilled workforce, as well as a well-deserved reputation as a successful trading nation. The Canadian economy hasn't always been this way. In the late 1980s the Canadian economy reached its peak. The economy had just recovered from a narrow channel earlier in the year, but what they didn't realize at the time was that they were heading back towards another bottom, that they would eventually bottom out in the 2nd quarter of 1991. Canada's real GDP graph I have come to learn that the Canadian economy is solid, having only experienced a negative change twice in the last twenty years. The second negative percentage change occurred in the early 1990s. Consumer spending was in the fall, government spending was up and down, real capital spending was down, and imports far exceeded exports. When consumer spending decreases, and with it GDP, the numerical outcome comes into play. When consumer spending changes, it can have a dramatic effect on everything else. The government's action did not appear to have an obvious correlation with the downturn in the economy. Government spending rose almost June 6, 1944 during the 1987 growth and fell almost four-dimensionally the following year, however, as the economy fell continuously, government spending did not change, it moved sporadically over the next three years, until hit bottom. and fell nearly 8% from 1991 to 1994. In my opinion, Canada's international challenge in the twenty-first century is to maintain or improve its lifestyle. Maintaining a customary and decent legal instrument helps the North American country to retain and attract gifted and educated people who can maintain and increase our productivity as a nation. To maintain this standard of living, Canada should seek to improve its knowledge economy, intangible value, ability to thrive the knowledge economy, innovation and quality, taxation, innovation and rationalization . To improve our data economy, Canada should emphasize the importance of education and continue to fund it in a positive way. When it comes to Canada's intellectual capital, Canadian companies should be innovative and creative and seek to bring to market products that are unique and superior to those of their competitors. To increase Canada's ability to thrive in the knowledge economy, Canadian businesses must encourage a sense of teamwork throughout the organization. In order to promote innovation and the quality of products made by Canadian companies, Canadians must look for better technology wherever.