MGTA05H3 Lecture Notes - Lecture 5: Small Business, Externals, Risk Aversion
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MGTA05H3 Full Course Notes
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Gdp: total value of all goods and services produced within a country in a year. Y = c + i + g + x im. Ca(cid:374)ada (cid:894)ra(cid:374)ked (cid:1005)(cid:1004) (cid:374)o(cid:449)(cid:895) rece(cid:374)tl(cid:455) joi(cid:374)ed top (cid:1005)(cid:1004) i(cid:374) (cid:862)cou(cid:374)tries (cid:449)ith largest gdp- (cid:1006)(cid:1004)(cid:1005)5(cid:863) Canada is followed by u. s. , china, india and 6 others. Gdp per capita: measures wealth of average/typical citizen; some big economies have poor people (india) Less is being produced, less in being consumed. Anyone may start a business at any given time. Enterprise: a project or underdtaking that requires effort but whose outcome is uncertain. Three basic human motivations that make a persong. A persons belief about what causes good or bad results in his or her life get out of bed every morning. The extent to which people believe that they can: need for power (n-pow) control events/their destiny that affect them; believe that events result from their own.
