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Mind Map, Government of corruption, Role of CSA, Product recalls, These…
Mind Map
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Environmental Protection
Due to the pressures of overconsumption, population growth and technology, the biophysical environment is being degraded, sometimes permanently.
For example The National Environmental Policy Act , Clear Air Act, Clean Water Act, Noise Control Act .
Labour Laws
What are Labour Laws? Labour laws are laws that protect worker and employer rights. This happens in Canada.
This is important because it just ensures that employee's and worker's rights are protected This shows that the businesses can ensure that their employees are treated fairly and equitably.
Crown Corporations
Crown corporations are generally created to fill a need the government feels is not being met by the private sector,.
For example, they include operations such as the Canadian Broadcasting Corporation, VIA Rail, Canada Post and the Bank of Canada; as well as many provincial electric utilities.
Prevent Price Fixing
Price fixing is an agreement among competitors to raise, lower, maintain, or stabilize prices or price levels.
For example For example, manufacturers and retailers.
Makes sure that consumers are informed about products, services and transactions. keeps consumers safe from unfair business practices.
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Government of corruption
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It is against the law for government officials to use private information to gain profit, this is called insider-trading.
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Government employees are often well paid and have good job security. This can lead some to become lazy and inefficient at their job. That is our tax dollars paying their bloated salary!
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Role of CSA
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Companies like the Canadian Standards Association (CSA) and the Consumer Product Safety Commission (CPSC) ensure that products meet industry standards for safety.
To be able to display the sticker, a product must undergo extensive stress tests and material science tests.
Product recalls
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.
Sometimes, products slip through and enter the market that are not safe. If they do, the government can force the company to issue a recall on that product.
Example: A recall allows the consumer to have their purchased good repaired for free or get a refund.
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Recently a group of US senators sold a significant part of their stock portfolio after a private briefing about the damage COVID-19 would do to the stock market.