MGTA01H3 Lecture 3: MGTA01 Lecture 03 - Owning and Controlling the Factors of Production
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MGTA01H3 Full Course Notes
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Question 3: the purpose of a business is to provide customers with things that they need and want. Which of the following businesses had the most revenue in 2014? (this question was answered incorrectly the most on the quiz) In 2014, walmart sold (cid:1008)8(cid:1004) (cid:271)illio(cid:374) dollars" (cid:449)orth of jea(cid:374)s a(cid:374)d t-shirts. Owning and controlling the factors of production (chapter 3: factors of production: review, these are basic building blocks used to produce anything, everything is made up of basic fundamental parts, hydrogen and water for example, make up water. The study of all this is referred to as economics. Sehar qureshi: most countries are on a spectrum, somewhere in between, with a bit of both. Terminology: (cid:862) tate(cid:863) (cid:373)ea(cid:374)s a (cid:272)ou(cid:374)try, its people a(cid:374)d its territory. Ca(cid:374)ada is a (cid:862)state(cid:863: a (cid:862)state(cid:863) is lo(cid:374)g lasti(cid:374)g, ca(cid:374)ada is (cid:1005)(cid:1009)(cid:1004) years old, a (cid:862)go(cid:448)er(cid:374)(cid:373)e(cid:374)t(cid:863) ru(cid:374)s the state.
