Ch 22&24 L

Question 0

Why do Canadian banks make so much more profits than other parts of the world?

Answer 0

-The gov has regulations to protect
them from too much foreign competition.
-another reason is the banks are efficient at their job.
-Canada’s services are better. Canada has a lot of
technologies. Canadians are the highest users of debit cards. (more fees)
Also

Question 1

is the decrease in manufacturing jobs and increase in service jobs a bAd thing?

Answer 1

jobs have started shifting from
manufacturing to services. this is natural for any advanced country.
-even though we’ve lost jobs in the manufacturing industry, the value added per jobs has accommodated.
-we produce the same output as we did before, just more productive so requiring less workers.
-now, manu. owners can react faster to changes, bc they can hire and release workers faster.