MGMT 1P93 Lecture Notes - Lecture 3: Oligopoly, Planned Economy, The Foundations
8 Oct 2016
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Document Summary
Business ethics and social responsibility: doing well by doing good. Two factors that will impact our economic future: cdn dollar and oil prices. Business- us operated businesses sell cheaper goods. The goal is controlled, sustained growth through both fiscal and monetary policy. Fiscal- taxation and spending decisions are designed to encourage growth, boost employment and curb inflation. Monetary- actions that shape the economy by influencing interest rates and supply of money controlled by. Money owed on visa is not counted on either. Banks hold about 2% of your deposit as a reserve. Provides banking services for other banks and the government. Free market- private ownership, economic freedom, fair competition, and innovation and hard work. Business offer value to: customers, employees, suppliers. Right to own a business and keep after-tax profits. The relationship between the price of a good and the quantity the buyers are willing and able to buy. Market and planned economies don"t meet all of society"s needs.
