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 the functioning of national economies. There are two types of economics: microeconomics and macroeconomics. Microeconomics means small. It analyzes the fundamental elements of economics, including individual agents and markets, their interactions, and the outcomes of those interactions. These can be households, a particular business, buyers and sellers. Macroeconomics means big. It analyzes the whole economy and the problems 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 Should Not 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, superb infrastructure, a highly educated and skilled workforce, and a well-deserved reputation as a prosperous trading nation. The Canadian economy has not always been like this. In the late 1980s, the Canadian economy peaked. The economy had just recovered from a narrow channel at the start of the year, but what they didn't realize at the time was that they were heading for another trough, which they would eventually reach in the second quarter of 1991. Canada's real GDP chart I learned that the Canadian economy is robust, it has 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 declines, dragging GDP down with it, it puts the bottom line at stake. When consumer spending changes, it can have a dramatic effect on everything else. The role of government does not seem to have an obvious correlation with the decline of the economy. Government spending rose near June 6, 1944 throughout the growth of 1987 and fell almost four-dimensionally the following year, but as the economy was in free fall, government spending did not change, it changed sporadically over the next 3 years, until they bottomed out. and fell by almost 8% between 1991 and 1994. In my opinion, Canada's international challenge in the 21st century is to maintain or improve its usual way of life. Maintaining a decent customary legal instrument allows North American countries to retain and attract talented and educated people who can maintain and increase our productivity as a nation. In order to maintain this standard of living, Canada should try to improve its knowledge economy, its intangible value, its capacity to make the knowledge economy prosper, innovation and quality, taxation, innovation and rationalization. In order to grow our data economy, Canada should emphasize the importance of education and continue to fund education in a positive way. When it comes to Canada's intellectual capital, Canadian companies should be innovative and creative and try 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, businesses.