Public Goods
Goods everyone can use but individuals won’t pay for alone
What are public goods?
Government sets rules for businesses
What is regulation?
Law that prevents false advertising
What is truth in advertising?
Government takes taxes and helps those in need
What is redistribution of income?
Government keeps economy steady
What is stabilizing the economy?
Example: protects the entire country
What is national defense?
Prevents companies from becoming too powerful
What are monopolies?
Ensures base level of pay
What is minimum wage?
Program for retired people
What is Social Security?
Government spending and taxes
What is fiscal policy?
Example: free learning for all
What is public education?
Protects buyers from unsafe products
What is consumer protection?
Requires safe working conditions
What is workplace safety laws?
Health care for low-income families
What is Medicaid?
Controlled by the Federal Reserve
What is monetary policy?
Why businesses don’t provide these
What is they are not profitable?
Example: food safety rules
What are health codes?
Limits child labor and overtime rules
What are fair labor standards?
Temporary money after job loss
What is unemployment insurance?
Lowering interest rates does this
What is increases borrowing?
How they are funded
What are taxes?
Agency that protects the environment
What is the EPA?
Protects against discrimination
What are equal employment laws?
Helps reduce inequality
What is redistribution?
Raising rates helps control this
What is inflation?