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A snapshot of the summary - business canadian edition
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1 Understanding the Canadian Business System
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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.
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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
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The transfer of activities from the government to the private sector?Privatization
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The conversion of private firms into government-owned firmsnationalization
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a reduction in the number of laws affecting business activity and in the powers of government enforcement agenciesDeregulation
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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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