This is typically a good/service provided to the public with no profit collected.
What is a public good.
100
This is an economic system where the government has complete control.
What is command economy.
100
This is a tax on foreign goods
What is a tariff.
100
This is the phenomenon where one company out competes other companies in the same industry and eventually takes over the companies in the same industry, becoming the only company in industry.
What is a monopoly.
100
This is the term for a law imposed by the government and subjugated to those targeted by the law.
What is a government regulation
200
This is the term for a public good that is sufficient for everyone. When one consumes the good it does not diminish the amount available for others.
What is non-rivalry/shared consumption
200
This is an economic system with limited government involvement.
What is mixed economy.
200
This government agency is authorized to impose tariffs on foreign products/goods.
What is the Federal Trade Commission (FTC).
200
This regulation was enacted to block/stop the formation of trusts and monopolies.
What is the Sherman Anti-trust act.
200
Government regulations are enacted/passed by this sector of society.
What is the government.
300
This is the term for a public good that is available for everyone and anyone to use/enjoy. No one is excluded from using or enjoying the public good.
What is non-excludability/non-exclusion
300
This is an economic system with no government involvement at all.
What is a free market.
300
The tariffs imposed on foreign goods typically does this to the price of the foreign goods.
What is raise the prices.
300
This regulation was actually an amendment to the constitution passed by Congress and it's main purpose is to provide further clarification and substance to the Sherman Anit-Trust act.
What is the Clayton Anti-trust act.
300
This agency of government has the power to create/make regulations if they wanted.
What is Congress/Legislative branch.
400
This public good describes air that has no harmful levels of pollutants, dirt, or chemicals in it.
What is Clean air.
400
The United States with it's practice of capitalism and private ownership with little government interference except only to
provide protection for both consumers and producers most resembles this type of economic system.
What is a mixed economy.
400
This is the whole purpose of imposing tariffs on foreign goods and raising the prices of foreign goods.
What is protect U.S. companies/protect businesses.
400
This is the main fear for the development/formation of monopolies.
What is reckless price increases.
400
This agency of government has the power to enforce government regulations once they are passed/enacted.
What is the President/Executive branch.
500
This public good consists of the Army, Navy, Marines, Coast Guard, and Air force all who have authorization to use lethal/deadly force and weapons to support the state and it's citizens.
What is the Military.
500
China, a communist state where the government owns all the means of production and determines/sets all prices, all investments, and all incomes most likely resembles this type of economic system.
What is a command economy.
500
Goods imported from other countries are naturally different from their counterparts in the U.S. in this major way.
What is they are lower in price.
500
This is the main objective for the government blocking/stopping monopolies.
What is protect competition.
500
This agency of government has the ability to interpret regulations and deem them constitutional or unconstitutional.
What is the court system/supreme court/judicial branch.