RSM100Y1 Lecture Notes - Lecture 3: North American Free Trade Agreement, Business Cycle, Service Canada
Document Summary
Canadian business history: canadian business environment, some business history, our economic system. Canada is a social democracy, with a monarch as head of state. Canada is empty, huge mass of land but hardly any people. Our economy is widely recognised as a mixed market economy. In canada, capitalism is not unbridled : public ownership as well as private, adam smith"s invisible hand is at work, competition is not pure; many oligopolies. Ex: air canada, in 1930s, no one can afford to own air canada. Wealth: an abundance of material possessions and resources; property that has economic utility. Today, canada"s wealth is derived mostly from trade (mostly with u. s. ) Upper canada, lower canada -> due to the st lawrence river, up the river = British north america act 1867, july 1st (the provinces of ontario, quebec, new. Brunswick, nova scotia and pei) dominion of canada. Built the canadian national railway since america tried to take over the british.
