MGTA01H3 Chapter Notes - Chapter 2: Gross Domestic Product, Business Cycle

58 views4 pages

raspberryplatypus436

17 Dec 2010

School

Department

Course

Professor

For unlimited access to Textbook Notes, a Class+ subscription is required.

noahrosa0429 and 39878 others unlocked

MGTA01H3 Full Course Notes

Verified Note

14 documents

Document Summary

Chapter 2 understanding the environments of business. All businesses operate within a larger external environment. This external environment, which consists of everything outside an organization"s boundaries that might affect it, plays a major role in determining the success or failure of any organization. Managers should not react to changes in the environment; they should be proactive and at least try to influence their environment. The economic environment refers to the conditions of the economic system in which an organization operates. Goals of the canadian economic system: economic growth, economic stability, and full employment. Tools we use to measure economic growth are: aggregate output, standard of living, gross domestic product, and productivity. Agricultural efficiency has improved because we devised better ways of producing products and invented better technology for getting the job done. So the agricultural production has grown because we have been able to increase total output in the agricultural sector.

Related Questions

16) Which of the following best defines the term business cycle? a) the pattern of short-term ups and downs in an economy the total quantity of goods and services produced by an economic system during a given period the conditions of the economic system in which an organization operates the measure of economic growth that compares how much a system produces with the resources needed to produce it d)

There is a growing debate that the internal environment is more important than the external environment, present your explanations to provide clarity to this issue using simple examples touching on the environmental factors for both environments.

byzantiumcat682

32) Which of the following best describes the term gross domestic product? a) total value of all goods and services produced within a given period by a national economy through domestic factors of production total quantity of goods and services produced by an economic system conditions of the economic system in which an organization operates total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located

MGTA01H3 Chapter Notes - Chapter 2: Gross Domestic Product, Business Cycle

MGTA01H3 Full Course Notes

Document Summary

Get access

Related Documents

MGTA01H3 Chapter Notes - Chapter 2: Business Cycle, Economic System, Purchasing Power Parity

MGTA01H3 Chapter 2: MGTA03 Chapter 2

MGTA01H3 Chapter Notes - Chapter 2: Purchasing Power Parity, Genuine Progress Indicator, Economic Stability

Related Questions