Chapter 3 Flashcards
What are Canada’s top 3 sectors?
agricultural, service, manufacturing
competitive advantage
is a product that a country or company is better at producing than its competitors.
Foreign Investment
occurs when a company expands its business into a foreign country.
Human Development Index
health (life expectancy at birth), education (literacy rate and school enrolment), and standard of living (GDP per capita).
Productivity
as the amount of output with respect to the amount of input
What are some of the most problematic factors for doing business?
- inefficient government bureaucracy
- the capacity to innovate
- tax rates
Basic Requirements for global competiveness index
Institutions - how well governemt, individuals and firms interact to generate weath
Infasturture- transportation, telecommunications, and electricity
Efficiency Enchancers
Higher Education and Training - for economies that want to move up (India)
Technological Readiness - economy adopts exsisting technologies to enchance the productivity of its industries
Innovation
Business Sophsitication - condicive to higher efficency in the production of goods and services
Innovation - sufficent investments in R&D which in turn may lead to cutting edge products
Economies of Scale
arise by offering standard products accross many market
Experience
resources may be shared accross countries given rise to an advantage
Location
the global company can choose the most advantagous place, produce products in one company, assemble them in another etc.
Differention
allows for organizations on a global scale to service multinational buyers
Innovation drive productvity
- something canada needs to work on
- a more productive economy grows faster, adapts better, and supports higher wages.
Pros of Globalization
Cheap Labor → This could be argued as either a pro or con depending on what perspective you look at. From the perspective of businesses in the U.S, the cheaper labor they receive is a huge pro. For example, the family farm that grows tobacco and cotton, they are to receive legal migrant workers from Mexico. According to the family “ no locals are willing to put in the hard work the migrant workers do”.
Medicines → Beneficial to study and make medicine in China as they do it cheaper. Therefore when a new drug does come out it is more affordable for everyone. Like the person studying and researching AIDS medicine.
Cons of Globalization
Job Loss → Lagers corporations are moving towards cheaper labor, leaving others to suffer. Briggs and Strented left many people who’d thought they would retire out searching for a job.
Ethical → There are many ethical issues involved with cheap labor. It can include child labour, such as the 17 year old girl working in a factoring dueing the same job as someone in the U.S for less than half the price.
Why is Tesla Innovative
- car more like iphone
- imporved battery
- stay competitive
- electric vechiles
- charging stations
- Elon Musk face figure
Manitoba
Polar Bear Capital of the World
- Winniepeg
- Animal and Plant protein industry
- Climate Change Incentives
- Property Tax rebates
- Agriculture, Mining, Manufacturing
- Boeing Canada
- Imports Jet Parts
- Exports Wheat, Oilseed
Nunavut
- Art and Crafts, mining
- Low coporate tax
- MMG investment
Ontario
- Toronto Ottawa
- ## automoblies
Yukon
- whitehorse
- plenty room for growth
- natural resources
- tourism, mining
- Mcdonalds and Walmart
Saskatchewan
- manufatcuring, agriculture
- ## productive workforce
Newfoundland
- st johns
- advanced ocean technology
- educational institutions
- Equinnor, Exxon
British Columbia
- Victoria
- abundance of natural resources
- 5 publicaly funded universities
- Aerospace
- Amazon, Telus
- imports, cars exports wood
High quality of life, low standard of living
- money to afford services
Standard of living refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area. Quality of life, on the other hand, is a subjective term that can measure happiness.
New Brunswick
-
Why is Canada no longer in the top 10?
- 16th in Human Development Index
- Highest GNP Lechestin
Human Development Indez
- Life Expectency
-Education
-GNP per capita
help determine quality of life, and standard of lving
Life expetency
- shows how good the medical care system is
Education
- will comand higher salaries and be more informed about everudau life
- highly educated workforce will be more innovative
- driving force of competeiveness
GNP per capita
Gross national product per capita
- all goods and services produced within the country
- shows the average income of individual citizens
GNP per capita
Gross national product per capita
- all goods and services produced within the country
- shows the average income of individual citizens
- high does not mean a country with have a high standard of living or rank high on HDI
Other good factories
- political stablility
- weather
- Infrastruture
- CUltural compatiablity
Quebec
largest Canadian province by area, highly concentrated people. Montreal close port. Quebec city hub of innovation. Quebecers are creative. Aluminum. Pizer
Banks
Royal, CBC, Scotia, National
Circus De Soiel
Exporter of services
