AFM131 Chapter Notes - Chapter 3: Canada Border Services Agency, Natural Resources Canada, Free Trade

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Consumer perspective: limited selection, shelves not adequately stocked, lack of deals. Business perspective: complexity of our market and geography, did(cid:374)"t understand canadian expectations. Pri(cid:272)i(cid:374)g (cid:449)as(cid:374)"t acceptable for the canadian market. Uppl(cid:455) did(cid:374)"t (cid:373)eet the e(cid:454)pe(cid:272)tatio(cid:374)s of ca(cid:374)adia(cid:374) (cid:272)o(cid:374)su(cid:373)ers: higher prices. How globalization affects you as a(n): consumer. Benefit when the world is more connected. Connect with customers, clients, or business partners in different countries/time zones. Raw materials or production in other countries: business owners. Canadian market vs global market: more customers globally, more competition = more innovation. Know the competitors producing products: potential loss of jobs. To get goods that are not available locally. Free trade is ideal scenario: moving goods/services b/w countries without barriers. Exporting: selling products to anther countries. Balance of trade: relationship between exports and imports. Ideal situation is to export more than import: more revenue to spend on importing goods, raise gdp, more competitive in global market, creates canadian jobs (produce exports)