A _____ exists when only one company provides a product or service without competition from other companies.
monopoly
100
A ______ is an agreement in which the federal goverment gives an inventor the sole right for 20 years to make, use, and sell an invention or a process.
Patent
100
Who administers the Federal Food, Drug, and Cosmetics Act and related laws?
The FDA
100
Who regulates interstate commerce?
The federal government
200
These situations usually involve providing public services, such a public utilities, which have a fairly stable demand and which are costly to create.
Natural monopoly
200
A _____ gives an author the sole right to reproduce, publish, and sell literary or artistic work given by the federal government.
copyright
200
True or false: Laws do not require labels on products if a possible danger exists from use of the product.
False
300
One of its primary purposes is to discourage monopolies by outlawing business agreements among competitors that might tend to promote monopolies.
Sherman Act
300
How long does a copyright last?
for the life of the author plus 70 years
300
A ______ is a contract that permits a person or organization to use public property for private profit.
Public franchise
300
The largest source of revenue for the federal government is _______.
Income tax
400
The main purpose of the pricing provision in both of these laws is to prevent price discrimination.
Robinson-Patman Act and the Clayton Act
400
A _______ is a distinguishing name, symbol, or special mark placed on good or service that is legally reserved for the sole use of the owner.
trademark
400
Unauthorized use of personal information can result in _____.
Identity theft
400
Who regulates intrastate commerce?
Individual states
400
_______ taxes are the main source of revenge for most states and some cities and countries.
Sales tax
500
This law made unfair or deceptive acts or practices, including false advertising, unlawful.
Wheeler-Lea Act
500
True or false: No one may publish or reproduce copyrighted work without permission of the copyright owner.
True
500
True or false: Two major goals of legislation are to ensure safe products for consumers and to prevent the misuse of information.
True
500
Local governments regulate the types of of buildings and where they are built through _____ and ______.