ADMS 1000 Lecture Notes - Monopolistic Competition, Natural Monopoly, Liquor Control Board Of Ontario

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Indira Somwaru

Document Summary

External environment factors that have the ability to shape/influence organizations. Competitive forces: # of competitors, nature of competition, global + foreign competition. Labour forces: employment rates, accessibility for those with disabilities, using your work force. Global forces: international economics + politics, societal forces, foreign ownership. Political forces: international trade, deregulation + privatization, introduction of neoliberalism. Societal forces: human rights, csr, pay equity, consumer taste. Gdp= the total value of a country"s output of goods + services in a given year. Perfect competition: consists of many small firms producing identical products. Monopolistic competition: many small firms producing slightly different products. Oligopoly: small number of producers with different products. Monopoly competition: one firm is only supplier. Microeconomics: study of small components of economy, such as individuals + business. Macroeconomics: study of economy as a whole; unemployment, inflation, gdp. Market economies: endorses capitalism, free market, competition, competes freely for profit. Communism: governments own most of country"s resources+ economic decision.