Global Marketplace
Government as Regulator
Government as Provider
Money and Banking
Financial Institutions and "The Fed"
100
Involves the exchange of goods and services between nations.
What is international trade?
100
Business that takes place between states.
What is interstate commerce?
100
Items provided by government and paid for using tax money.
What are public goods?
100
Allows money to be transferred from one bank account to another through a network of computers.
What is and Electronic Funds Transfer (EFT)?
100
Offers the entire range of banking services, such as checking and savings accounts, loans, and financial advice.
What is a commercial bank (or full-service bank)?
200
The difference in value between a country's imports and exports over a period of time.
What is a balance of trade?
200
Allows the federal government to break up monopolies, regulate them, or take control of them.
What are Antitrust laws?
200
Items that consumers purchase directly from businesses.
What are private goods?
200
The electronic transfer of a payment directly from the payer's bank account to that of the party being paid.
What is Direct Deposit?
200
A not-for-profit bank set up by an organization for its customers to use.
What is a credit union?
300
The ability of a country or company to produce a particular good more efficiently than another country or company.
What is a comparative advantage?
300
A legal grant for the sole right to own an invention.
What is a patent?
300
Occurs when a business offers a public good or service while being overseen by the government.
What is privatization?
300
A standard of value and a means of exchange or payment.
What is money?
300
The central bank of the United States...also known as the banker's bank.
What is the Federal Reserve System?
400
The practice of the government putting limits o n foreign trade to protect businesses at home.
What is protectionism?
400
Gives artists the legal right to own their creations.
What is a copyright?
400
A temporary reduction or elimination of a tax that is meant to encourage or discourage an activity.
What is a tax incentive?
400
A record of the amount of money a customer has deposited into or withdrawn from a bank.
What is a bank account?
400
1913
What is the year that the Federal Reserve System was set up by Congress?
500
A ban on the import or export of a product.
What is an embargo?
500
A name, symbol, or characteristic that identifies a product.
What is a trademark?
500
A government expense that is provided to help people.
What is a transfer payment?
500
Property or goods pledged by a borrower to use as security agains a loan if it is not repaid.
What is collateral?
500
Regulating the money supply
What is the primary responsibility of the Federal Reserve System?
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