The Role of Government in Business

These flashcards cover key concepts related to the role of government in business as discussed in the lecture.

Crown Corporations

Companies owned by the federal, provincial, or territorial government, created to provide services not offered by the private sector.

Monetary Policy

Management of the money supply and interest rates by the Bank of Canada to support spending and price stability.

Fiscal Policy

The federal government's adjustments to taxes and government spending.

Privatization

The process of selling publicly owned corporations to private entities.

Deregulation

The removal of laws and regulations that hinder competition in the market.

Government Expenditures

Funds spent by the government to provide services and benefits to consumers and businesses.

Taxation

The process by which governments collect money from individuals and businesses to fund public services.

Equalization Payments

Federal transfers aimed at reducing fiscal disparities among provinces and territories.

Canada Free Trade Agreement (CFTA)

An agreement signed to reduce and eliminate interprovincial trade barriers.

Where does laws come from?

Laws are derived from the Constitution, judge precedents, federal and provincial statutes, and administrative agencies.