After reading this chapter, you should be able to:

1. Define the nature of Canadian business and identify its main goals.
2. Describe different types of global economic systems according to the means by which they control the factors of production through input and output markets.
3. Show how demand and supply affect resource distribution in Canada.
4. Identify the elements of private enterprise and explain the various degrees of competition in the Canadian economic system.
5. Trace the history of business in Canada.