(See related pages)
Below are the key terms featured in this chapter. Clicking on a term will reveal its definition. The textbook's full glossary is also available for online searching.
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| Crown corporation | A company that is owned by the federal or provincial government (See page(s) 99) |
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| Deficit | Occurs when a government spends over and above the amount it gathers in taxes for a specific period of time (namely, a fiscal year) (See page(s) 106) |
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| Economies of scale | The situation in which companies can reduce their production costs if they can purchase raw materials in bulk; the average cost of goods goes down as production levels increase (See page(s) 104) |
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| Federal budget | A comprehensive report that reveals government financial policies for the coming year (See page(s) 108) |
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| Fiscal policy | The federal government’s effort to keep the economy stable by increasing or decreasing taxes or government spending (See page(s) 106) |
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| Industrial policy | A comprehensive coordinated government plan to guide and revitalize the economy (See page(s) 119) |
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| Marketing boards | Organizations that control the supply or pricing of certain agricultural products in Canada (See page(s) 111) |
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| Monetary policy | The management of the money supply and interest rates (See page(s) 109) |
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| National debt | The sum of government debt over time (See page(s) 106) |
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| National Policy | Government directive that placed high tariffs on imports from the U.S. to protect Canadian manufacturing, which had higher costs (See page(s) 99) |
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| Privatization | The process of governments selling Crown corporations (See page(s) 101) |
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| Surplus | An excess of revenues over expenditures (See page(s) 108) |
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| Transfer payments | Direct payments from governments to other governments or to individuals (See page(s) 111) |