MGM102H5 Chapter Notes - Chapter 7: Canadian National Railway, Air Canada, Innovation, Science And Economic Development Canada
Document Summary
Government activities that affect business may be divided into 6 categories. The canadian economic system is mixed - some allocation of resources is made by the market and some by the government. National policy: government directive that placed high tariffs on imports from the. United states to protect canadian manufacturing, which had higher costs. Crown corporation: a company that is owned by the federal or provincial government. Set up for several reasons: provides services not being provided by business (air canada, bails out major industries in trouble (canadian national railway, provides special services that could not otherwise be made available (bank of. Since the 1990s, federal and provincial governments have tried to reduce the role of government in the economy. Former large corporations (air canada, cnr) were sold. The management of airports, ports and ferries were sold. Privatization: the process of governments selling crown corporations. Industries that had been regulated were deregulated (oil and gas, airlines)
