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Canada (162,165)
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ECO105Y1 (83)
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Chapter 5

Chapter 5 readings notes

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Department
Economics
Course
ECO105Y1
Professor
Prof.Hare
Semester
Fall

Description
Lecture 5: The Vital Importance of Achieving Productivity Growth for a Market Economy 5.1: Partnering for Prosperity in Canada our economy must grow so the standard of living continues to rise one of the most prosperous countries in the world to grow, we have to be competitive with other jurisdictions: our imp. Trading partners competitiveness depends on our capability to produce and sell superior products and services customers in Canada and in other parts of the world have to be eager to buy or we can sell out productsservices at good prices (they are produced at lower costs with superior processes) increased intl. trade + globalization allows firms and regions to expand potential markets also focus on specific productsservices and capabilities have to be internationally competitive in their specialization canadas international competitiveness has prospetiy gap with US
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