Exam Review

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Tariffs- tax on import/export goods by government
Mercantilism- government regulates foreign trade to increase wealth & security
National Policy- created by John A Macdonald, for high tariff on imported manufacturer items to
protect manufacturing industries (settlement of west, build railway, protection tariff)
Reciprocity Treaty- between British North America & United States, for free trade (mutual list of goods
that they trade btwn them tariff free)
Protective Tariff- American companies built factory/plants in Canada to avoid tariffs
Stern Model of National Growth- federal govn created protectionist barriers for CDN industries
Porters Diamond (4-Forces)
Firm strategy (rivalry)- competitiveness
Input Factors- create labour, infrastructure, technology, finance
Demand- drive innovation within industry, global trends
Related & Supportive Industries (suppliers)- local supporting industries are competitive
Bank Act 1871- ensures all banks are registered by federal govn
Sound currency (stable): measure to gold standards (relate money into value of gold)
Francis Hincks- proposal was accepted because was very involve in wanting Bank of Montreal to win
Bank Act Revision- every 10 years prove everything was legal and correct
Exchange rates- multiple currencies, depending on who sets currencies
-created farming enhance equipment to save labour time, Thresher help w/wheat harvest
-clearing trees off land, selling trees to buy more land
Competition- other farmers will look for more efficient ways to grow, harvest corp
Competition btwn Massey vs Harris- rivalry increased national growth
Reciprocity Treaty- allowed Massy to import resources like lumber from US duty free
Porters Forces
Related/Supporting Industry: freedom to choose btwn CDN/US sources weakened local supplier power
Demand: growing market share for farming equipment, distribution channels using railways to ship
Tariffs- national policy increases higher importing tariff, increases input cost
Massey-Harris- merged together to create economies of scale
Financial- Massey was successful due to new immigrants needing land, workers from Ireland
Stern Diagram (Massey)
Non-Predatory Govn- Massey had working relationship w/PM who wanted Massey to succeed
Financial System- sell farm implementations because good contract laws, sound banking
Professional Mgmt- Massey made mistake not entering US earlier
Wilfred Laurier
-“I think we can calm Canada shall fill the 20th century”
-put ads in Britain to show pictures of how beautiful Canada is (birds flying over open land/water)
-created boundaries btwn CAN/US for people to recognize there CDN
-national policy to open the west, have railways, immigration
Crown Corporations- started/owned by govn, can make profit, have shareholders
CDN National Railway (CNR), Liquor Control Board Ontario (LCBO), Trans-CAN Airlines, Petro, Hydro
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