MGTA01H3 Lecture Notes - Lecture 3: Canadian Broadcasting Corporation, Air Canada, Authoritarianism

• School: UTSC
• Department: Management (MGT)
• Course: MGTA01H3
• Professor: Professor Boivard

Document Summary

Economics the study of how people produce the things they need and want. Economic system the means by which a society produces and distributes the goods and services that its people need. Through its choice of economic system, a country determines the following: who owns the factors of production, who controls the factors of production, who decides what needs to be produced, who decides how goods and services are distributed. Most canadians accept it as normal and desirable that health care is funded by government. You are able to divide all the countries of the earth into one of two categories: planned economies countries in which most of the factors of production are controlled by the state. The nation"s ability to create and enforce the law. Has the power and the authority to feed, clothe, shelter, educate and employ the nation"s entire population. People need an almost infinite variety of things: toothpaste, coffee, running shoes, haircuts, raincoats, and etc.