MGT100H1 Lecture Notes - Lecture 2: Factor Price, Comparative Advantage, Canadian Business
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MGT100H1 Full Course Notes
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Believe in free enterprise; should regulate the market with controls and legislation. Many properties are still owned by the province and the federal government. e. g. telephone system and electric company and railroad system in the past. The economy does not mean laissez faire - not what adam smith said. Countries generate wealth through trade, due to comparative advantage between countries. Maps won"t be tested, required readings will be tested. How is the banking system different now than approx 100 years ago. Banks were only banks in the past, nowadays, banks owned bonds,trading companies etc. There were many more regional and smaller banks in the past, banks are much more mature and larger nowadays, etc bmo. People working in manufacturing in canada gone down as our labour cost are high. Mgt100h lecture 2 notes business to countries with low labour wages which will decrease their production cost, e. g. china, mexico (cheaper and more ef cient labour)ef ciency elsewhere.
