MGM102H5 Lecture Notes - Canadian Dollar, Offshoring, Social Cost
Document Summary
Canadian dollar has dropped to about 92 cents since the last couple of months. Canadians as a whole have a lot of debt and with the increase in interest rates, people are going to reduce spending and will affect economy. Several other countries" economies have gone through their crisis and still emerging from it. As canadian dollar is getting lower, canada"s products and services are more attractive for the. Our products are competitive in international markets because our products seem cheap in comparison with other price values. Business, the economy and finance will be a constant state of flex, economics conditions change, environmental conditions change, business conditions change, and cultural conditions change. Before labour was very powerful and wages were driven up and working conditions were changing. As a result changes were made, business wanted to look for comparative advantages. We produce things, manufacture things, we take input and turn them into outputs with greater value.
