Vocabulary
Total control over a business which eliminates competition
Monopoly
To assist or make easier
Facilitate
What is the main purpose of Anti- Trust legislation
to discourage Monopolies
Police, Health departments, and schools are all examples of?
Public goods and services
What is the first step in career planning?
self-assessment
At the same time
Simultaneously
An administrative division of a government
Agency
What does FTC stand for?
Federal Trade Commission
The right to private property is protected by the government through laws and courts that enforce ____________ .
Contracts
Three types of currency in the US
paper currency, coins, deposits (checks and debit cards)
The income for the government from taxes
Revenue
U.S. federal banking system that controls credit and the flow of money
Fed
What does the EPA do?
Protects the environment
Name 2 forms of income for the government
fees, fines, tax revenue, borrowed funds
Money acts as a medium of exchange, making it easier to do what?
trade
The rising of prices due to an increase in the amount of money in circulation
Inflation
To give authority or power to
Authorize
What does the FCC do?
Regulates TV and Radio
What type of revenue is the main form of income for the federal government?
Income tax
Most economic decisions in the U.S. are made where?
Market place
Something that has value which is used to obtain goods and services in a country
Currency
A group of people officially approved to perform certain duties or functions
Commission
Who is responsible for controlling the money supply in the US?
Fed
A tax on items that you purchase?
Sales tax
Why does the government provide public goods instead of individuals?
Individual would most likely not be able to provide public goods themselves.