BAM 101 - Chapter 1 - Understanding
the Canadian business system well
answered
Revenues - Expenses = - ANS ✔Profits
Factors of production - ANS ✔-Natural resources
-Capital
-H.R (Labor)
-Entrepreneurs
-Info Sources
Command Economies - ANS ✔-Communism (Gov owns all)
-Socialism (Gov owns most)
Market Economies - ANS ✔-Capitalism
-Mixed Market
Input Market - ANS ✔Firms buy resources from households.
Output Market - ANS ✔Households buy goods/services from firms.
Interactions between Gov and Businesses - ANS ✔-Regulator
-Tax Agent
- Provider of Incentives
the Canadian business system well
answered
Revenues - Expenses = - ANS ✔Profits
Factors of production - ANS ✔-Natural resources
-Capital
-H.R (Labor)
-Entrepreneurs
-Info Sources
Command Economies - ANS ✔-Communism (Gov owns all)
-Socialism (Gov owns most)
Market Economies - ANS ✔-Capitalism
-Mixed Market
Input Market - ANS ✔Firms buy resources from households.
Output Market - ANS ✔Households buy goods/services from firms.
Interactions between Gov and Businesses - ANS ✔-Regulator
-Tax Agent
- Provider of Incentives