ADMS 1010 Study Guide - Midterm Guide: Canadian Content, Vehicle Insurance, Externality
1 Apr 2014
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The business industry is surrounded by diff factors: economical, technological, social, political. Company is surrounded by: suppliers, customers, investors, competitors, Occupy wall-street say= businesses have too much power. Tea party members say= govt has too much power (tea party= movement to reduce us national debt) Organizations: social entities, goal directed (business goal= profit, govt goal= societal welfare (peace, order, jobs, re- election, deliberately structured/coordinated, linked to environment. Mutual dependence= govt and business support each other. Govt establishes regulations, laws, infrastructure and subsidies businesses contribute by tax and political support. Govt involvement in economy: mercantilism: partnership with private enterprises to secure govt support in national interest, mkt. liberalism: govt supporting capitalist, laissez faire, free market economy with focus on private enterprise. Govt interference limited to maximize free trade rogers bell telus upset over more competition coming from usa. Taxes on imports to develop infant industries and domestic expansion. Distributive policies: redistributing economic opportunities/benefits through subsidies, taxes, regulatory preference.
