Class Notes (834,986)
Canada (508,846)
York University (35,167)
ADMS 1000 (497)
Eytan Lasry (108)

ADMS CH. 8.docx

5 Pages
Unlock Document

Administrative Studies
ADMS 1000
Eytan Lasry

ADMS Notes CH.8 The Canadian Business Enterprise System: Fundamental Features:  All companies have some sort of economic or business enterprise system: o What goods and services are produced and distributed to society o How the goods and services are produced and distributed  Capitalism: economic system based on following principles: o Rights of individual  Individuals have own rights to pursue own self-interests(ie: profits)  Gov’t regulations enforce rules that effect how business owners conduct their affairs(gov’t guidlines of candidate selction) o Rights of private property  Taxation-redistributing wealth in society  Whether a product should be nationalized Gov’t or not  Ie: health care o Competition  Goal of capitalism o The Role of the gov’t?  Laissez faire  Or gov’t restrictions Gov’t as guardian of society:  Tax Collector Role: o Revenue taxes  Individuals taxes  Corporations o Sales tax  Gst o Property Tax o Restrictive Tax  Goods(alcohol and tobacco)  Crown Corporation o Crown Organization: accountable through a minister to parliament  Implements public policy and safeguards national interests:  Air Canada and Petro for transport national interest  To protect vital industries to economy:  CNR: safeguarded gov’ts largest investments in railways  Special services that couldn’t be done by private businesses:  Air Canada established after no company could take the risk and plungeADMS Notes CH.8  Bank of Canada as well controlled by Gov’t to regulate monetary operations in CAN  To nationalize industries considered to be ‘natural monopolies’  Electricity: grids too large to be a privatized company; so gov’t intervenes  LCBO: largest single retailer o Cons to Privatizing: increased crime and alcohol abuse o Pros to Privatizing: jobs created, better locations  The Regulator Role: o Gov’t economic regularities:  Impositions of constraints to modify economy  Ex: Food and Drug acts, Hazardous Products o Imperfect Competition:  Business supply responsive to consumer demand  By allowing individuals to follow self interest they’ll be responsive to consumer needs and capability of the environment  Business aim to reduce competition as a means of prospering and succeeding  Consequently inefficient businesses will remain, and consumers will be forced to accept those types of products or services, at prices dictated by those businesses  Overall society is offered fewer goods they really want, as opposed to high competition which is good o The Public Interest:  CRTC-canadian radio tv and telecoms  Regulates telecoms’ industry and its carriers (ie: Bell )  Responsible for broadcasting licences, requiring other companies to conform to the standards  Competition Burea 8.4:  Fair competition: o Economy works more efficiently o Adaptability to global markets o Chance for newcomers o Consumer choice and competition o Balances interests of all players  Price Fixing  Bid Rigging: prearranged biddings illegal  Misleading rep: false adsADMS Notes CH.8  Deceptive prizes  Tied selling /market restrictions: ie must buy 2 product too  Refusal to deal:  Mergers  Telemarketing  Deceptive marketing Gov’t as Guardian of Private Business Sector  Gov’t Assistance to Private Business o Grants, loans consulting to help businesses  EX: Chrysler 1 billion to save from bankru
More Less

Related notes for ADMS 1000

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.