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A primary industry is one that is responsible for the removal and acquisition of natural resources.

Examples of primary industries include farming, mining, forestry, quarrying and fishing. In Alberta, two examples of primary industries include: Canadian Forest Products Ltd. in Grand Prairie (forestry) and KMC Mining, which mines coal (mining).

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The Tertiary Industry refers to the part of the industrial process in which services are provided to consumers. This sector of the economy refers to delivery of services instead of the production of goods.

For example, people working in this industry may perform roles such as hospital workers, teachers, bankers, dentists, transportation workers, etc.

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Unlike the tertiary industry that focuses on service delivery to citizens (medical, transportation etc.), the quaternary sector of the economy provides information services related to communication, computing and research and development.  This sector of the economy uses technology to provide information and training to other industries and sectors of the economy.

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A non-renewable resource is also reffered to as a finite resource, which means that it cannot be reproduced by natural means to meet the rate of consumption.

An example of a non-renewable resource is fossil fuels such as oil. This is because oil is consumed and burned so quickly that natural and even aritficial means cannot produce enough of the non-renewable resource to meet the rate of consumption.

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Fair Trade allows poor and developing countries to receive fair prices for their goods. This system also helps to ensure the sustainable development of goods and safe conditions for workers.

For example, an organization known as "Fair Trade", protects workers in developing countries. Fair trade products have to meet "fair trade" criteria and allow consumers to know what they are purchasing. These products ensure that standards are met, workers are protected and paid a fair wage for their work.

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An example of a Free Trade Agreement (FTA) is CETA (the Canada-European Union Comprehensive Economic and Trade Agreement), which was established on September 21, 2017. CETA improves trade, removes tariffs, facilitates investment and ensures labour and environmental standards are upheld in both Canada and countries within the European Union.

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Friedrich Hayek's views were contracty to Keynes because he did not have faith in the government and he was weary of its complete control over the economy. For Hayek, the government had no role in maintaining a healthy economy, and he believed that government's  regulations should not interfere with a competitive market. Unliked Keynes, Hayek was adamant that a competitive economy was enough to keep a country' strong and prosperous.

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John Maynard Keynes was a British economist, who opposed unrestricted capitalism. He beleived that economies with limited government action would all fail. He claimed that people with jobs would have money, resulting in a strong economy. When all members in a society have money to spend, the economy prospers as a result of consumerism. In short, he believed that the government should play an active role in a country's economy.

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In simple terms, Environmental Stewardship can be explained as the
responsible use and preservation of natural resources. Environmental Stewardship is a shared responsibility among governments, industries and citizens in an effort to help ensure that the limited resources we have remain abundant and sustainable.

The A&W Corporation is an example of a company that has implemented environmental stewardship.  In response to the environmental impacts of plastic straws on marine wildlife, A&W has replaced all of their plastic drinking straws with completely biodegradable straws made from recycled materials. A&W claims this will result in a reduction of 82 million plastic straws from reaching garbage dumps (and eventually oceans) each year.

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A&W Canada announced Friday that it will ban plastic straws, saying the move will save about 82 million of the single-use products from landfills each year.

The company made the announcement to coincide with World Oceans Day, adding they will be eliminated from stores by the end of the year.

It claims to be the first major fast food restaurant chain in North America to make the move.
READ MORE: Man begins 6-month swim across Pacific Ocean - and through 1,600 km of trash
"Reducing waste from landfills is a top priority for A&W and this is one big way that we can make a difference," Susan Senecal, CEO of A&W Canada, said in a press release.

Once plastic straws are phased out, the restaurant will use paper straws that are sustainably sourced and biodegrade within three to six months.
WATCH: Lethbridge restaurant no longer using plastic straws
A&W Canada follows several other companies and governments around the world who have pledged to reduce plastic waste, and specifically eliminate straws, in the past few months.

Several independent restaurants have recently made the promise as well.

Among the companies promising to ditch plastic is IKEA, which said it plans to phase out single-use plastic products from its stores by 2020 in an attempt to reduce its carbon footprint.
READ MORE: Ikea plans to ban single-use plastic products by 2020
Last month, the European Union announced proposed plans to ban plastic products like cotton buds, straws and stir sticks.

It is expected to be a topic at the G7 summit in Quebec on Friday as well.

Prime Minister Justin Trudeau wants the other leaders to sign on to a zero-waste plastics charter, setting international deadlines for eliminating plastic waste and committing to helping the developing world meet similar deadlines.
WATCH: Plastic straw ban? Trudeau will look to G7 leaders to take the lead
Trudeau released his own statement on Friday to mark World Oceans Day.

"This year, World Oceans Day coincides with the first day of the G7 Summit, where Canada will bring together world leaders and heads of international organizations to fight climate change and preserve the health and resilience of our oceans, coasts, and seas," the statement read.

The Trudeau government has not made a formal commitment yet to eliminate plastic waste, but is currently asking Canadians to weigh in on the issue of plastic waste in an online discussion.
READ MORE: Canada reducing (but not banning) use of plastics at G7 in Quebec
Greenpeace Canada has been pushing for more action on the issue. The organization says the plastic pollution crisis has hit an epidemic level and Canada already produces more garbage per capita than any other developed country.

"We want Trudeau and the other G7 leaders to know that in order to get to the real heart of the problem with plastic pollution they really need to address it at the source, and one way to do that is to ban single-use plastics," said Greenpeace Canada plastics campaigner Farrah Khan.
- With files from The Canadian Press

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A&W Canada set to ditch plastic straws at all locations

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A&W Canada announced Friday that it will ban plastic straws, saying the move will save about 82 million of the single-use products from landfills each year. The company made the announcement to coincide with World Oceans Day, adding they will be eliminated from stores by the end of the year.

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A tariff is a tax placed on imports (goods/services entering the country) and exports (goods/services leaving the country). This form of taxation promotes the growth of domestic businesses and economies. Trade Liberalization has opposed tariffs as their purpose is to increase Free Trade or trade without tariffs/taxation.

An example of a tariff is the tax that US President Trump placed on American steel. He placed a tariff of 25% on imported steel to promote the domestic steel industry within the US. However, this tariff has actually hurt American companies such as Ford because American steel companies cannot produce enough to meet the demand making the steel more expensive.

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Outsourcing is used by large business and TNCs (Transnational Corporations) to reduce the cost of their product by moving means of production to countries where labour is cheap and government regulation is relaxed.

A good example of outsourcing is found at Google. They have outsourced requirements for IT workers, internet technicians, etc. to workers in India and surrounding areas. Instead of hiring local workers within the US, they hire workers from other countries because of cheaper labour costs.

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Exports refer to goods or services that are sent out of a country into another country for sale. Exports and imports are closely related because when exports increase, imports will also increase as well. The demand for imported goods will lead to an increased rate of exported goods.

An example of exports is Crude Petroleum. This material is Canada's number one export and is shipped off to many other areas for sale. Exports help to bring money into the country through trade and sale.

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A subsidy can be described as financial assistance that the government gives to companies or individuals (i.e. farmers) to help them continue providing services or sell goods at a subsidized or reasonable cost.

An example of a subsidy in Canada is the Federal Summer Jobs Program. It gives subsidies to not-for-profit organizations, the public sector (various levels of government) and small businesses with less than 50 exmployees to give young workers a quality summer working experience, allowing them to improve their knowledge and skills.

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Imports refer to goods or services that are brought into the country from other countries to be sold, and are a key element of international trade. Trade Liberalization (the reduction of tariffs), helps to increase the amount of goods exported to other countries.

Examples of common imports includes food, oil, and industrial materials (wood, mined materials, etc). According to an article by Worlds Top Imports, 58.4% of Canada's imports come from North American countries, while only 24% come from Asian countries.  The remaining imports are attributed to European imports.

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The HIPC is a program that was created by the World Bank, IMF and other similar organizations. The objective is to relieve pressure on extremely poor countries and gradually bring them out of debt. To-date, 36 countries (30 of them are in Africa) have received debt relief totaling $99 billion.

An example of a current HIPC is Rwanda. This is an extremely poor country recovering from genocide and extreme debt caused by taking loans that they cannot possibly pay back. They also lack natural resources and therefore many exports are agricultural such as their coffee and tea exports. According to KTPress, Rwanda is $2.8 billion in debt and this number is only climbing. The New York times say that the debt levels are climbing because Rwanda is investing in large projects for long term development.

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Unlike privately-owned companies, Crown Corporations are fully owned by the government but are managed like private companies. They provide services to Canadians that are essential but may not be financially beneficial to private companies.

An example of a Canadian Crown Corporation is Canada Post, the main mail carrier within the country. The company is owned by the federal government but is managed and operated like a private company.

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A Laissez Faire Capitalism system is one that is free from government involvement and control, which means that it is unregulated and unmonitered. A Laissez Faire system is one that does not have tariffs or subsidies.

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Supply and Demand is dictated by the market. It is the basis for determining price in a consumer-driven economy. Supply and demand refers to the connection between the amount of a product that a company provides at a determined price and the demand (quantity consumed by the general public).

An example of supply and demand is evident following the death of an artist, who then becomes popular and famous. Vincent Van Gogh only sold one painting while he was alive and it sold for about $109.  Following his death, more than 2,000 pieces of his art were sold and are now valued at millions. While he was alive, the demand for his art was low but there was significant supply. Following his death, the demand for his art substantially increased because there was a limited amount of pieces that could ever be created and sold.

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Scarcity is the result of infinite wants and a lack of available resources.  As Human Beings, we try to maintain continuous production to meet our ever-growing needs and desires; however, the planet's natural resoures are limited.

Example: According to Ranker, 2.8 billion people already live with water scarcity but this number is only expected to climb as we continue to consume and use water at an incredibly fast rate. This is ranked as the world 2 most scarce substance and the earth used to be 75% water.

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International Monetary Fund (IMF) was established in 1945, and is comprised of 189 countries. The main goals of the IMF are to create financial stability and promote international trade and economic growth, thereby reducing poverty worldwide.

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Similar to the IMF, the World Bank is also comprised of 189 countries. Its focus is on rebuilding countries affected by war and conflict, and accelerating the economy. The IMF also allows countries to become independent in the sustainable development of their natural resources, and facilitates agreements for lont-term loans to improve economic productivity.