Final answer:
Canada is the country with Toronto as its largest city, located on Lake Ontario's northwestern shore in the province of Ontario, which is called 'South Canada' due to its southern location within the country. Toronto is a key financial and economic hub in Canada, mirroring the role of major cities in the US.
Step-by-step explanation:
The country with Toronto as its largest city, which lies on the northwestern shore of Lake Ontario, in the province of Ontario, is Canada. Toronto is not only the financial center of Canada but also houses landmarks such as the CN Tower, Distillery District, Casa Loma, First Canadian Place, Nathan Phillips Square, Yonge-Dundas Square, the Toronto Islands, and Port Lands. The province of Ontario, where Toronto is located, is the most populous in Canada, often referred to as 'South Canada' due to its location and has about 39 percent of Canada's total population.Also, while Canada is a large country, the majority of its population is concentrated near the US border. Ontario's capital, Toronto, is a critical economic engine for Canada, similar to how New York City is for the United States. The Canadian economy is heavily integrated with that of the US, with cities like Toronto at the forefront of transitioning to a knowledge-based economy, rich in technology and innovation.