Class Notes (836,521)
Canada (509,851)
York University (35,328)
ADMS 1010 (296)
Yong Troy (33)
Lecture

Week 1

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Department
Administrative Studies
Course
ADMS 1010
Professor
Yong Troy
Semester
Fall

Description
Week 1 Business in the Canadian Context ADMS 1010TroyPart One About the CourseThis course is an examination of the interaction between business and government How government interacts with business and impacts on the business environment is they key component of this course The EconomyThe economy is a complex system that helps to define society Made up of many different important distinct by interconnected elements o Productiono Allocation of economic inputs o Consumption of goods and services o Composed of people institutions corporations rules and regulations and the interpersonal relationships between all of these elements A Mixed Economy What is itCanada has what is referred to as a mixed economy A mixed economy contains both private ownership and stateownership of the means of production infrastructure and institutions It allows for private financial decisions by businesses and individuals but government has the ability to regulate business or prevent business from doing somethingAn Example of Government Control in a Mixed EconomyIn 1998 4 of the 5 big Canadian banks were looking to merge RBC with BMO TD with CIBC This was needed thought the bankers if Canadian banks were to maintain competitive in the global marketplaceThen finance minister Paul Martin would not allow the mergers to take place Types of EconomiesFeudal o Means of productions and natural resources owned by central authorities ie the King and the Kings appointed nobility o Peasant farmers did not own the land they lived on In return for being able to live on the land and reap benefits from its resources mainly agriculture the peasants were required to return a portion of their production to the
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