MGMT 1P93 Lecture 3: Chapter 3 detailed notes
16 Oct 2018
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Chapter 3: economics: the framework of business: macro- country"s overall economy, micro- consumers, families and businesses. Top ten economies of the world 2050: china, india, usa, indonesia, brazil, mexico, japan, russia, nigeria, germany. 3-1 global economy: slow growth in the near future: the conference board of canada predicts that the global economy will grow by. 2. 8 percent in 2016: growth is lower than the global avg, the eu econ will continue to grow but very slowly, canada"s econ only grew by 1. 2% in 2016, the rapid decline is bad for canada. Competition is encouraged to improve price and equality. The fundamental rights of capitalism: the right to own a business and keep after tax profits, the right to private property, the right to free choice, the right to fair competition. The degrees of competition: pure comp, monopolistic, oligopoly, monopoly, natural monopoly.
