MGTA01H3 Chapter Notes - Chapter 6: The Need, American Psychologist, Crop Rotation
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Chapter 6 enterprise and entrepreneurs: the business of canada & the people. Free enterprise: an expression used to indicate that individuals have the freedom to start and run businesses without bureaucracy and undue regulation. To start business you do not need to open any special bank account, or inform/ask for government permission. Individuals must pay taxes in canada if their income is more than ,500. There are roughly 2. 7 million businesses in canada. Stats canada identified 1. 49 million canadians who earned income from self- employment. 90% of all canadians businesses employ fewer than 10 people. 3. 8 million ppl about (20% work) in the public sector. 14. 3 million (about 80%) work in private sector. Private sector: the part of the economy that in run by private individuals usually with the aim of making a profit. There is no official definition of what is meant by a small business .
