MGM101H5 Chapter Notes - Chapter 5: Comparative Advantage, Government Spending, Stock Market

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: Dave Swanston

Document Summary

G7/g8; a quasi-organizaion comprising the world"s major fully developed economies. Usa, japan, germany, great britain, france, italy, and canada: transferred to g7/g8 with inclusion of russia, heads meet once annually to discuss major economic, poliical, and societal issues challenging global marketplace. Canada"s economy moved from primarily agriculture to diversiied system. Strong economic factors: producivity gains, strong business investment, technological innovaion, moderate wage increases, favorable currency exchange rate. Products that drive canada"s economy; crude oil, wheat, canola, gold and nickel, and sulphur. Growth of economic system relies on current and future economic acivity: ability to provide stable environment for economic growth, ensure required business and economic management systems to support organized economic development. Factors essenial to economic vitality: suicient levels of investment, absence of corrupion, comparaive advantage, low inlaion, efecive legal system, manageable levels of naional debt, naional monetary policy and banking system, established factors of producion, poliical stability.