Ch. 4 The Role of Government in Business

These flashcards cover key concepts regarding the role of government in business, including various policies, bodies, and mechanisms that influence the Canadian economy.

Crown Corporations

Companies owned by the federal, provincial, and/or territorial government that provide services not offered by private businesses.

Monetary Policy

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

Fiscal Policy

The federal government's efforts to manage the economy through taxation and government spending.

Privatization

The process of selling publicly owned corporations to private entities.

Deregulation

The removal of laws and regulations that hinder economic competition.

Equalization Payments

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

Transfer Payments

Direct payments from governments to individuals or other governments, such as employment insurance or social security.

Taxation

A means by which the government raises revenue, affecting family income and behavior.

Competition Bureau

An independent law enforcement agency overseeing fair competition under the Competition Act.

Marketing Boards

Agencies that control supply or pricing of certain agricultural products to stabilize markets.