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The role of government in the economy, Crown Corporations, Prevent Price…
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Crown Corporations
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CBC is a Crown Corporation that promote Canada's culture and identity through media. It is completely funded by the government and creates 100% Canadian Content.
CIB (Canada Infrastructure Bank) is a federal Crown Corporation that works to financially support revenue-generating infrastructure projects that are aligned with public interests.
Organizations entirely owned and funded by the federal or provincial government. They exist in order to fulfill a need that private companies would not be able to profit from.
Prevent Price Fixing
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The "Competition Act" protects consumers from price fixing, promotes competition, and ensures fair prices for consumers.
An agreement among multiple companies who are similar in the product/service they sell, to inflating their prices in order to increase profits.
An example of price fixing, is when two of USA's major chicken processors --Tyson Foods and Pilgrim's Pride-- were accused of conspiring together to inflate chicken prices.
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Role of Health Canada
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Sets out regulations that require companies to inform consumers of potential health effects and nutritional value on their packaging.
Role of CSA
A company that works to ensure that industry standards for safety are met on products. This is done in the means of conducting tests on the functions and materials of the good.
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Recalls allow consumers to be able to have their purchased good repaired for free or for a refund in the face of the product having issues.
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