MGTA01H3 Lecture Notes - Lecture 10: Imperial Bank Of Canada, Economic System
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Final exam: cumulative, chapters 1-9, 11, monday, december 11, 7-9 pm. Why do entrepreneurs write plans: for themselves: record assumptions, quantify timelines, identify tasks and resources, for others: to get help, support, capital, to confirm how much money you need. Finance: world is divided into two broad groups: people and organizations with ambitions, plans, ideas, but lack money. Entrepreneurs, students: people and organizations with money, but no immediate plans to spend it. Overworked , busy : purpose of finance: connect the two groups. Recall factors of productions: manual labour, natural resources, and capitals: entrepreneurs collect all the factors, create a business. Economic system needs entrepreneurs to be able to get capital. Amazon started off with 3 billion dollars, only started getting profits in 2004. In canada, there is a large industry with many types of businesses. Jeffrey li: banks, investment dealers, pension funds, insurance, etc, collect capital from some people, organize and repackage it, redistribute it to others.
