The Regulatory
This agency regulates interstate and international communications by radio, TV, wire, satellite, and cable.
FCC/Federal Communications Commission
This specific financial help is given by the government directly to a business to support its operations.
subsidy
This term refers to the part of the economy that is owned and operated by the government at all levels, like schools and libraries.
public sector
This market condition occurs when a single supplier controls the entire market because no substitute goods or services are readily available.
monopoly
This federal watchdog writes and enforces safety and health standards specifically for businesses to protect workers.
OSHA/Occupational Safety and Health Administration
his is a tax placed on imported goods, which is also commonly referred to as a duty.
tariff
This is the part of the economy owned and controlled strictly by individuals and/or private businesses.
private sector
This illegal activity occurs when a business charges different customers completely different prices for the exact same amount and type of product.
price discrimination
This government agency administers and enforces antitrust laws to prevent price-fixing and unfair competitive practices.
FTC/Federal Trade Commission
This economic policy strategy determines the overall amount of money in circulation and the level of interest rates.
monetary policy
These are goods and services used by all people that cannot be withheld from those who do not help pay for them.
public goods
This type of single business influences an entire market's production because it is determined to be in the absolute best interest of the public to do so.
natural monopoly
This regulatory agency was established by the federal government to enforce laws protecting consumer health regarding foods and medicines.
FDA/Food and Drug Administration
This government policy strategy influences the economy by setting levels of government spending and taxation.
fiscal policy
Also known as a free market or capitalistic economy, this system lets individuals and groups own the means of production instead of the government.
private enterprise system
Issuing this type of government permit is required to allow an individual or a business to legally function in the marketplace.
licensing
This is government assistance used to maintain the price of a good or service so that producers can still earn a profit.
price supports
Also called discretionary income, this is the amount of money people actually have left over to spend or save after paying all taxes.
disposable income