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ADMS 1000 - 2ND CLASS JAN 16 2013.docx

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York University
Administrative Studies
ADMS 1000

IMPORTANTDo chapter readings before class and cases before classthSunday February 10Sundaycommon midterm25 hoursWhen doing case studies get to the point bottom line at top bullet forms go through economic indicators define the theory and bring examples from the case studies what economic factors played a roleyou do this from what you learned in the coursetalk about factors of productioneconomic factorseverything you learned from the chapterKnow terms in Chapter2 will be testedoGet to know the chart on the power point slide 21NOTESChapter 2BusinessoFor ProfitoNon ProfitFactors of productionTypes of Economic SystemsoCommunismExists when government owns all the countrys resources and makes economic decisions centrallyCuba and North Korea Airport taxi busses malls resorts and little shack in mall all land and buildings all owned by the Govtall their pay cheques come from Govt education is free there and have some of the best doctors China not a communist any moreGovt owns and operates the nations sources of productionoSocialismOwnership by the Govt of industries that are critical for countrys growth and development Most of EuropeHolland France SwedenGovt owns and operates selected industries RussiaoMarket EconomyCapitalism
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