Chapter 3 Flashcards

1
Q

What are Canada’s top 3 sectors?

A

agricultural, service, manufacturing

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2
Q

competitive advantage

A

is a product that a country or company is better at producing than its competitors.

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3
Q

Foreign Investment

A

occurs when a company expands its business into a foreign country.

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4
Q

Human Development Index

A

health (life expectancy at birth), education (literacy rate and school enrolment), and standard of living (GDP per capita).

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5
Q

Productivity

A

as the amount of output with respect to the amount of input

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6
Q

What are some of the most problematic factors for doing business?

A
  • inefficient government bureaucracy
  • the capacity to innovate
  • tax rates
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7
Q

Basic Requirements for global competiveness index

A

Institutions - how well governemt, individuals and firms interact to generate weath
Infasturture- transportation, telecommunications, and electricity

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8
Q

Efficiency Enchancers

A

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

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9
Q

Innovation

A

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

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10
Q

Economies of Scale

A

arise by offering standard products accross many market

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11
Q

Experience

A

resources may be shared accross countries given rise to an advantage

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12
Q

Location

A

the global company can choose the most advantagous place, produce products in one company, assemble them in another etc.

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13
Q

Differention

A

allows for organizations on a global scale to service multinational buyers

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14
Q

Innovation drive productvity

A
  • something canada needs to work on

- a more productive economy grows faster, adapts better, and supports higher wages.

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15
Q

Pros of Globalization

A

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.

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16
Q

Cons of Globalization

A

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.

17
Q

Why is Tesla Innovative

A
  • car more like iphone
  • imporved battery
  • stay competitive
  • electric vechiles
  • charging stations
  • Elon Musk face figure
18
Q

Manitoba

A

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
19
Q

Nunavut

A
  • Art and Crafts, mining
  • Low coporate tax
  • MMG investment
20
Q

Ontario

A
  • Toronto Ottawa
  • ## automoblies
21
Q

Yukon

A
  • whitehorse
  • plenty room for growth
  • natural resources
  • tourism, mining
  • Mcdonalds and Walmart
22
Q

Saskatchewan

A
  • manufatcuring, agriculture
  • ## productive workforce
23
Q

Newfoundland

A
  • st johns
  • advanced ocean technology
  • educational institutions
  • Equinnor, Exxon
24
Q

British Columbia

A
  • Victoria
  • abundance of natural resources
  • 5 publicaly funded universities
  • Aerospace
  • Amazon, Telus
  • imports, cars exports wood
25
Q

High quality of life, low standard of living

A
  • 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.

26
Q

New Brunswick

A

-

27
Q

Why is Canada no longer in the top 10?

A
  • 16th in Human Development Index

- Highest GNP Lechestin

28
Q

Human Development Indez

A
  • Life Expectency
    -Education
    -GNP per capita
    help determine quality of life, and standard of lving
29
Q

Life expetency

A
  • shows how good the medical care system is
30
Q

Education

A
  • will comand higher salaries and be more informed about everudau life
  • highly educated workforce will be more innovative
  • driving force of competeiveness
31
Q

GNP per capita

A

Gross national product per capita

  • all goods and services produced within the country
  • shows the average income of individual citizens
32
Q

GNP per capita

A

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
33
Q

Other good factories

A
  • political stablility
  • weather
  • Infrastruture
  • CUltural compatiablity
34
Q

Quebec

A

largest Canadian province by area, highly concentrated people. Montreal close port. Quebec city hub of innovation. Quebecers are creative. Aluminum. Pizer

35
Q

Banks

A

Royal, CBC, Scotia, National

36
Q

Circus De Soiel

A

Exporter of services