MGTA01H3 Chapter Notes - Chapter 1: Izzy Asper, Planned Economy, Market Economy

• School: UTSC
• Department: Management
• Course: MGTA01H3
• Professor: Chris Bovaird

Document Summary

Also referred to as costs : revenues: the money a business earns selling its products and services. Labour: labour: the mental and physical training and talents of people; sometimes called human resources, the people who work for a company represent labour. Entrepreneurs: entrepreneur: an individual who organizes and manages labour, capital, and natural resources to produce goods and services to earn a pro t, but who also runs the risk of failure, jimmy pattison and izzy asper, aol james kimsey. Information resources: information resources: information such as market forecasts, economic data, and specialized knowledge of employees that is useful to a business and that helps it achieve its goals. Market economies: market: a mechanism for exchange between the buyers and sellers of a particular good or service, both buyers and sellers enjoy freedom of choice. Interactions between business and government: in canada"s mixed economic system, there are many important interactions between business and government.