Please enable JavaScript.
Coggle requires JavaScript to display documents.
Government and the economy - Coggle Diagram
Government and the economy
Promoting a stable market
a monopoly is where there is no competition in a market since a single person is the only supplier making them able to make the product as pricey as they want.
Monopoly's are bad in a market because it gives one person all the supply of one product in a market leading to thm making the product as expensive as they want since they have no competition
An example of monopoly is Microsoft because they are used on over 80 percent of computers worldwide
Ensure the safety of the consumer.
Health Canada plays a big role in helping many Canadian maintain and improve their lives.. It plays a very big role in our health care system
The CSA are a well known non-profit organization that are commit to developing certificate programs to improve public safety.
Product recalls remove defective or potentially harmful products from the market.
Environmental Protection.
An example of environmental regulation on business is pollution in the air, land and water, toxic substances, and some transportation can be dangerous such as gas cars.
Environmental Protection is important because it impacts human health, our ecosystem, economic stability and the overall quality of life.
Labour laws
Labour laws are to insure that all why is employees and employers are treated equally.
Labour laws are important because it can protect the workers in that job and can insure they are treated equally.
Crown Corporations
Crown corporations are meant to serve federal or national interests in a specific territory or province
CBC the news platform and The Bank Of Canada as well as Canada Post
Prevent Price Fixing
An agreement between two companies that are rivals and they set a maximum or minimum price for a product.
The Consumer Protection Act
Drawback of the government involvement in the economy
Government corruption is when the government uses their power for illegitimate private gain like bribery or embezzlement. Collusion can either be informal, where a formal agreement is not made between the involved parties, or formal, where a formal agreement between the involved parties is made for example price fixing or sharing insiders imformation
Waste and inefficiencies in government involvement are when member of the government decide to spend money on something because they think its a good idea, leading to inefficiency and waste of money