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Commerce (1,690)
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Chapter 3

Chapter 3 - The Role of Government in Business

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Department
Commerce
Course
COMMERCE 1E03
Professor
Rita Cossa
Semester
Winter

Description
ndCommerce Textbook Note January 22 2012Chapter 3The Role of Government in Business Government Affects BusinessGovernment activities that affect business may be divided into six categories1 Crown corporationssometimes compete with forprofit businesses 2 Laws and regulations3 Taxation and financial policies4 Government expenditures 5 Purchasing policies 6 Services Government Involvement in the EconomyWhen Canada was formed as a country in 1867 the federal government was given the power to regulate trade and commerce National policy government directive that places high tariffs on imports from the United States to protect Canadian manufacturing which had higher costsCrown Corporations Crown Corporation a company that is owned by the federal or provincial government They were set up for several reasonsthey provided services that were not being provided by businesses how Air Canada came to beCreated to bail out a major industry in trouble which is how the Canadian National Railway was put togetherLastly they provided some special services that could not otherwise be made available as in the case of the Bank of Canada Typically a crown corporation owns the provinces electric power company The Role of GovernmentPrivatization the process of governments selling Crown corporationsLaws and Regulations The power to make laws is based on the British North America Act 1867Passed by the British parliament it is the law that created the Canadian Confederation and it sets the legal ground rules for CanadaIn 1982 the BNA act became part of the new Constitution and was renamed the Constitution Act 1867Laws are derived from 4 sources y The Constitution y Precedents established by judges y Provincial and Federal statutes y Federal and Provincial administrative agenciesCanada has a legislature in each province and territory to deal with local mattersParliament in Ottawa makes laws for all Canadians
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