COMM 200 Chapter Notes - Chapter 2: Environment And Climate Change Canada, Gross Domestic Product, Bargaining Power
24 Dec 2016
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Document Summary
Factors that are critical in ensuring the economy remains resilient and competitive now and in the future include: productivity gains, strong business investment, technological innovation, moderate wage increases, favourable currency exchange rate. A core requirement to the stability and growth of any economic system lies in its ability to service and promote both the current and future economic activity taking place. Allowance for private ownership, entrepreneurship, and wealth creation. This refers to the openness of the market to support, encourage, and promote the concepts of private enterprise, personal ownership, entrepreneurship, and wealth creation. Government involvement in influencing economic activity and direction. Government involvement in the economy relates to the varying roles government can play within ongoing day-to-day economic activities: some of these activities include, acting as a . Customer via the purchasing of goods and services. Regulator, restricting access or defining competitive boundaries within particular economic sectors. Manager via powers granted to crown organizations, such as the bank of canada.
