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본문내용

1. Discuss the 6 elements of the business environment and how they affect business in Canada.

The 6 elements of the business environment are legal environment, economic environment, technological environment, competitive environment, social environment, and global environment. Legal environment deal with rules for how laws should be followed, law for taxes, laws to prevent corruption. Economic environment deal with degree of government ownership of business and GDP. Technological environment deal with computer system, technology, efficiency, productivity and there are B2C and B2B. Competitive environment deal with speed-delivery, quality,. Social environment deal with demography, diversity. Global environment deal with FTA.

2. List and describe the 5 Factors of Production.

5 factors of production are :
1. Land (natural resources)
2. Labor (workers)
3. Capital (not money itself but physical assets like machinery or buildings)
4. Entrepreneurship
5. Knowledge (e.g. high tech workers)
Not 1 factor that make a country rich but the combination of all 5

3. Describe the differences between Capitalism, Communism, Socialism and Mixed Economies, What is Canada? Why?

Capitalism is free-market economies. Ownership of company is open to all. Allows the poor to work their way out of poverty, rich suppose to help the poor, and allow for foreign ownership.

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