ADMS 1000 Chapter Notes - Chapter 5: Canadian Business, Canada A National Rugby Union Team, Petro-Canada

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Eytan Lasry

Document Summary

The canadian economy is a mixed market system: essentially capitalist but with a strong government influence in various sectors of the economy and nearly complete control of the health care and education sectors. Capitalism is a type of (free market) economic system based on the principles of: private ownership of the means of production, rights of individuals, competition. The role of government in canada: a tax collector, a business owner (crown corporations, a regulator, a guardian of business (bailouts and subsidies) Individual income tax: corporate income tax, sales (consumption) tax, property tax, restrictive/regulatory taxes, excise & customs duties/tariffs, tobacco, alcohol etc. Implement public policy & safeguard national interests (cmhc, bank of canada, cbc: protect vital industries (cnr, air canada, provide services that private enterprise would not otherwise pursue i. e. market failure (canada. Post, public schools: nationalize (cid:858)(cid:374)atural (cid:373)o(cid:374)opolies(cid:859)(cid:894)hydro, gas(cid:895, allow for more government control (olg, lcbo)