Final answer:
Toronto is Canada's largest city and main financial center, followed by Montreal and Vancouver in terms of metropolitan area size. Ottawa serves as the national capital, while cities like Regina are provincial or territorial capitals. Each of these cities plays a significant role in Canada's economy and cultural identity.
Step-by-step explanation:
Canada's largest city and main financial center is Toronto. Located in the southern-reaching province of Ontario, often referred to as South Canada, Toronto is the heart of Canada's business and financial industries. It is a bustling metropolis that takes advantage of its diverse population and strong economic foundation built on innovation and technology.
Montreal, on the other hand, is Canada's second-largest metropolitan area and the largest French-speaking city in the Western hemisphere, while Vancouver is the third-largest metropolitan area in Canada. Despite these cities having their economic strengths, such as Montreal's manufacturing sector fueled by hydroelectricity and Vancouver's status as the Asian gateway to Canada, Toronto stands out as the premier financial hub of the country.
Furthermore, Canada's capitals vary between the federal and provincial/territorial levels, with Ottawa being the national capital and cities like Regina serving as provincial or territorial capitals. Understanding the distinction between these cities underscores Canada's political and economic landscape.