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Toronto

Toronto, Ontario, incorporated as a city in 1834, population 2,731,571 (2016 census), 2,615,060 (2011 census). Toronto is Ontario’s capital city, Canada’s largest municipality and the fourth largest city in North America. It is made up of the former cities of Toronto, North York, Scarborough, York and Etobicoke, and the former borough of East York. The city is home to a large immigrant population, and is a national and international hub for finance, communications and cultural life.

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National Capital Region

The National Capital Region contains the cities of Ottawa, Ontario, and Gatineau, Quebec, as well as parts of their surrounding municipalities. In total, the region covers approximately 4,715 km2. While Ottawa is the capital of Canada by law, the National Capital Region is recognized as the seat of the federal government. A federal agency called the National Capital Commission represents the government for most planning matters in the region, in cooperation with provincial and municipal governments. The entire region is located within the traditional and unceded territory of the Algonquin people.

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Equity in Canada

Equity is the monetary value of a business or property, beyond any liens or related debts. The term generally refers to “shareholders’ equity.” Shareholders’ equity is an ideal figure that stands for the amount of money that shareholders would get if the company liquidated its assets and paid its debts. In informal usage, the term equities has evolved to mean publicly traded stocks.

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Debt in Canada

A debt is something that one owes to another. While debt can take many forms, the term usually refers to money owed. In a Canadian context, debts have become an increasing concern during the past three decades. According to Statistics Canada, at the end of the second quarter of 2020, Canadian non-financial businesses, governments and households owed almost $7.1 trillion in debts. That works out to roughly $186,000 per person. (See also Public Debt.)

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Capitalism in Canada

Capitalism is an economic system in which private owners control a country’s trade and business sector for their personal profit. It contrasts with communism, in which property effectively belongs to the state (see also Marxism). Canada has a “mixed” economy, positioned between these extremes. The three levels of government decide how to allocate much of the country’s wealth through taxing and spending.