Answer:
Canada falls under the category of <u>MAJOR DEVELOPED</u> countries. (more developed is not a category).
Explanation:
The United Nations classifies all countries of the world into one of three broad categories:
- developed economies
- economies in transition
- developing economies
This categories are also divided into subcategories, Canada and the US are categorized as Major Developed Economies of G7 countries (along with Japan
, France, Germany, Italy and the United Kingdom).
Major developed countries are countries with relatively large economies (not the largest in absolute size), with high GDP per capita (also not the highest absolute GDP per capita), and with high living standards.
Some countries may have higher economic indicators, but are not part of the G7 group because they fall behind in others. For example, China is the second largest economy, but its GDP per capita and living standards are low. Qatar has the highest GDP per capita in the world, but the living standards of the vast majority of the population are extremely low, the wealth is held by a small percentage of the population.
Other countries like Luxembourg, Monaco, Switzerland, Finland, etc., have very high GDP per capita and very high living standards, but the size of their economy is relatively small.
