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Government Involvement - Coggle Diagram
Government Involvement
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Labour Laws
- Describe what they are
Labour laws are laws that are set for the workers and employers to protect their rights. Government has involvement here by setting hea;th and safety standards. they always set inspections to the place for any problems and they look at workplace accidents and injuries if any occured.
- Why are these laws important?
These laws are important to the companies and workers/employers because it helps them maintain a fair and good enviornment for the people to work at.
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Prevent price fixing
- What protects consumers from companies price fixing?
The government ensures that companies cannot fix their prices from normal market forces. This protects the consumers to keep products and service affordable for them to use.
- What is price fixing?
Price fixing is when companies agree to increase the price of their goods and service to make more profit. Price fixing goes againsed law of supply which makes it become a monopoly. Examples of these types of companies are fuel stations like Petro Canada and Shell.
Crown corporations
- Examples of Crown corporations
Some really known crown corporations are Bank of Canada and Canada Post.
- What are they and why do they exist?
Crown corporations are federal or provincial organisations that act like private or independant businesses.
Enviornmental protection
- Why is enviornmental protection important?
Enviornmental protection is important because animals and other wild life live along the area and most companies that stay there and create their businesses they don't really care about the enviornment and just uses it all which pollutes the air and water and other things. Luckily the government has agencies that make sure these companies follow the protection standards
- Example of enviornmental regulation on buisinesses
An example of these enviornmental regulation on buisinesses is forrestry. As people know trees help us humans breath and create shelter for animals that live in the area but if to much trees were cut down there wouldn't be that much trees left for the animals and other wild life to live in.