Summary business canadian edition

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

• 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

• 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