Mind Map ⭐
Promoting A Stable Market
Drawbacks of government involvement in the economy
Environmental Protection
Labour Laws
Ensuring the safety of the consumers
Crown Corporations
Prevent Price Fixing
Describe what they are
Why Are They Important
What is Price Fixing
What act Protects consumers from companies price-fixing
Why Is It Important
Example of environmental regulation on businesses
Product Recalls
Role Of Health Canada
Role Of CSA
Examples
What is a Monopoly
Why are Monopoly's bad
Law is important because it is used to
Govern Collective Deals.
They Create Collective Deals For workplaces and to do workplace inspections
The Competition Act
Price fixing is an anti competitive agreement between participants on the same side in a market to buy or sell a product.
Water Well Businesses Specialize In Testing said water as a environmental regulation for the safety of there businesses
Environment and Climate Change Canada informs Canadians about protecting and conserving our natural heritage, and ensuring a clean, safe and sustainable environment for present and future generations.
Lack Of Incentives
Waste of inefficient
Impact Of Personal Freedom
Example Of a Monopoly
If a company has a monopoly they can set the price at what they want.
A Monopoly is when a company or group has complete control over the supply of a product or service.
Canada post is a crown corporation with
a monopoly on the domestic letter market
What Are They and Why do they exist
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Why are they important
The CSA ensure the safety of consumer products by displaying a sticker on a product A product must undergo heavy stress tests.
Health Canada sets safety regulations for companies that produce goods for human consumption.
If a product passes all safety tests it is usually trusted in the market, however, the government agencies responsible for consumer safety cannot oversee all production.
Crown Corporations are usually created to fulfill a need that would not make any profit for a private company.
Crown corporations serve public policy purposes, unlike private companies. It is the job of crown corporations to serve the interests of the federal government, the nation, or a province or territory.