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Summary Business Canadian Edition

- Griffin, et al
ISBN-13 9780132721998
122 Flashcards & Notes
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A snapshot of the summary - business canadian edition Author: Griffin, Ebert, Starke, Dracopoulos, Lang ISBN: 9780132721998

  • 1 Understanding the Canadian Business System

  • 1.1 Define the nature of Canadian Business and Identify its main goals

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  • In Canada's economic system, businesses exist to?
    earn profit for owners, take into account what consumers want or need.
  • 1.2 Describe different types of global economic systems according to the means by which they control the factor of production through input and output markets

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  • The two most basic forms of command economies?
    1) Communism
    2) Socialism
  • Household and businesses interact in which two ways?
    1) input markets
    2) output markets
  • Command and market economies are two extremes. In reality, most countries rely on some form of?
    Mixed market economy
  • The transfer of activities from the government to the private sector?
    Privatization
  • The conversion of private firms into government-owned firms
    nationalization
  • a reduction in the number of laws affecting business activity and in the powers of government enforcement agencies
    Deregulation
  • How can government influence businesses
    - Government as customer
    - Government as competitor
    - Government as regulator
  • 4 Government regulator roles?
    - promoting competition
    - protecting consumers
    - achieving social goals
    - protecting the environment
  • a person hired by an company or industry to represent its interests to government officials?
    A lobbyist

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