MGMT 1281 Study Guide - Comprehensive Final Exam Guide - Canada, Root Mean Square, Market Economy
20 Nov 2018
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> business produce or sell product in order to make pro t. > non pro t = provide goods and services but do not seek pro t. The factors of production > resources used by rms to create goods and services: natural > comes out of the earth. Ns natural resource is lumber/wood: capital > money, investments, how much money out there to start a business, human resources > labour, entrepreneurs > bring competition, risk takers, self employed. > everything is controlled by the government. ex. > individuals own non-critical (don"t effect government gdp) > government owned: canada post competes with smaller companies. > government regulates: crtc regulates advertisements, alcohol, cigarettes. External environment peste > political economic social technical environment. The usa - giving out nina (no interest, no assets) How to get out of recession: gov spends more (mixed economy) Gdp: how many products are we putting out.
