BU111 Study Guide - Final Guide: World Trade Organization, General Agreement On Tariffs And Trade, Leading Edge
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BU111 Full Course Notes
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Customer: by buying g/s, gov. can help business be successful sometimes, gov. is the most important consumer. Competitor: canada post, cbc crown corporations (gov. owned companies) Gov. can directly compete with firms by regulating prices charged. Canadian radio and television corporation (crtc) is a crowned enterprise that determines what radio/television stations are allowed to operate, what technology standards will be adopted, etc. Promotes competition: competition act ensures healthy level of competition, enough different organizations for a healthy competitive environment, and that everyone is playing fair with respect to price also prohibits acts that reduce competition. Encourages new businesses (so consumers get more variety) Protects consumers: hazardous products act requires certain products to be labelled; Tobacco act prohibits cigarette advertising on billboards and in stores. Achieve social goals: promotes well-being of society (universal health care, education) Protect the environment: nobody owns environment so gov. must act on behalf of it and protect it.
