MGTA01H3 Lecture Notes - Lecture 3: Canadian Human Rights Act, Authoritarianism, Liquor Control Board Of Ontario

• School: UTSC
• Department: Management
• Course: MGTA01H3
• Professor: Chris Bovaird

Document Summary

Mgta01 lecture 3: chapter 3, owning & controlling the factors of production: economics: the study of how people produce the things they need and want. Therefore, businesses have no concern for those who aren"t customers, or do not have the money to buy products. However, the government provides a stable and conducive environment by providing public services, enforces laws, and provides regulation and oversight: governments interact with businesses in 3 main ways: Impose and collects taxes: pass laws which regulate the conduct of businesses, provide some products and services, in competition with, advocate arguments: private enterprise, state control works poorly in practice. The full range of people"s needs, and different characteristics are simply too vast for any one entity the government to plan, produce, and distribute effectively: government bureaucrats in offices, lack the information and the. Feel for the average person"s changing needs and changing tastes.