MGTA01H3 Chapter Notes - Chapter 1: Planned Economy, Canadian Business, Monopolistic Competition
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
1 | define the nature of canadian business and identify its main goals. An organization that seeks to earn profits by providing goods and services. profit expenses. The money that remains (if any) after a business"s expenses are subtracted from its revenues. The money a business spends producing its goods and services and generally running the business. The money a business earns selling its products and services. 2 | describe different types of global economic systems according to the means by which they control the factors of production through input and output markets. The study of how businesses, people make choices about: The way in which a nation allocates its resources among its citizens. The resources used to produce goods and services: labour, capital, entrepreneurs, and natural resources. The mental and physical training and talents of people; sometimes called human resources. money, or machines and technologies that money can buy. computers, phones, hammers, tractors capital.
