chapter thirteen Flashcards
What is deregulation?
The opening of an industry to more competition by removing government regulations originally put in place to limit competition
What is privatization?
The sale of government owned industries and services to private businesses
What is crown corporations?
a government owned business created to provide essential products and services to people
What is AGT?
Alberta government telephone
What is EUB?
Alberta energy and utilities board
What is economic nationalism?
The belief that a country’s economy should belong to the people of the country and not be controlled by foreign companies
What is the FIRA?
Foreign investment review agency
What is knowledge economy?
Industries that use knowledge to produce economic beliefs
What is the factors of production?
Resources such as land, labour, and capital that are used to produce goods and services
What is a sweatshop?
A workplace characterized by low wages and poor working conditions often found in less developed countries that sell goods to TNCs
