The Global Market & Competition
The ban on the import or export of a product.
What is an embargo?
A name, symbol or characteristic identifying a product.
What is a trademark?
What individuals and businesses pay governments to help run things.
What are taxes?
The record of the amount of money a customer has.
What is a bank account?
The central bank for the USA.
What is the Federal Reserve System "The Fed"?
When a country or company can produce a good more efficiently.
What is comparative advantage?
Business that takes place within states.
What is intrastate commerce?
Social Security, unemployment and veteran's benefits.
What are types of transfer payments?
The rate you pay the bank for borrowing money.
What is interest?
A not for profit financial institution.
What is a credit union?
When a country exports more than it imports.
What is a trade surplus?
When one party fails to live up to the terms of a contract.
What is a breach?
Monetary funds given to encourage certain behaviors.
What are subsidies?
Usually employers issue payroll checks in this way.
What is direct deposit?
These companies provide loans for purchasing real estate.
What are mortgage companies?
Besides the USA, these 2 countries have a currency called the dollar.
What are Australia and Canada?
Allows the federal government to break up monopolies.
What are antitrust laws?
When a business offers a public good or service.
What is privatization?
Mortgages, Commercial, Individual, and Lines of Credit.
What are the 4 main types of loans?
Funds set aside for emergencies.
What are reserves?
The practice of the government putting limits on foreign trade.
What is protectionism?
The amount of years a product or process is patent protected.
What is 20 years?
Social Security @ 6.2% + Medicare @ 1.45% =
What is the FICA tax?
Money as a medium of exchange.
What is one of the functions of money?
The number of Federal Reserve Districts.
What is 12?