MGTA01H3 Lecture Notes - Lecture 5: Canadian Imperial Bank Of Commerce, Oligopoly, Scotiabank

• School: UTSC
• Department: Management
• Course: MGTA01H3

Document Summary

Different countiries use different systems; they don"t do they same thing ,but have the goal to feed, cloth, house everyone. All or mostly all or mostly government individuals in control in control we call we call. Because planners, working for the government, using the best models and best software make a plan, and make rational decisionsin best the interests of all the nation. How it gets produced etc. is determined by markets . The activities that take place inside, not a place. The interaction of buyers and sellers exchanging information about products. If the government owns or controls all the factors If the government provides all the goods & services. In market economies, we think choice is good. Letting people run their own business, they will try, try to develop existing, etc . Then customers have a more choice where and what to shop. Some markets have lots of sellers (good for buyers, lots of choice, fair price)