ADMS 1000 Chapter Notes - Chapter 9: Canada Revenue Agency, Capitalism, Invisible Hand

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: All

Document Summary

Mixed economy capitalist economy with government: all developed countries have business enterprise system. Determines how goods/services are produced and involvement distributed distributed: capitalism based on number of fundamental principles. Individuals have every right to pursue their own self- interest. Canada govt. intervene to limit it, such as job recruit selection criteria. Individuals have right to own land, labour, and capital. Canada govt. involved through taxation for even distribution of wealth. Sufficient competition among business enterprise ensure quality goods and services: also known as the invisible hand . In canada, perfect competition does not exist, no guarantee that there will be competitors everywhere. Also referred to as free enterprise system. Canadian government structure and roles: levels of canadian government. Highest level of government and applies to all canadians. Roles: national defense, criminal/bankruptcy law, foreign policy, immigration, first nations, etc. Led by prime minister; elected by canadian voters. Two main federal departments: canada revenue agency, canada post.