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3.02

goverment and business

TermDefinition
disposable income the amount of money people have spend, or dispose of, after they have paid their taxes; also called discretionary
federal communications commission a government agency that regulates interstate and international communications by radio, television, wire, satellite, and cable federal trade commision
fiscal policy the government policy that sets levels of government spending and taxation
food and drug administration the regulatory agency establish by the federal government to enforce laws that protect consumers health
licensing issuing a government permit that allows an individual or a business to function in the marketplace
monetary policy the government policy that determines the amount of money that will be in circulation and the level of interest rates
monopoly a condition in which a market is controlled by one supplier with no substitute goods or services readily avabile
natural monopoly a single business that influences the entire production of a particular good or service because it is in the best interests of the public for
OSHA a federal government agency that writes and enforce safety and health standards
price discrimination an illegal activity in which a business charges different customers different prices for similar amounts and types of product
price supports assistance by government in maintaining the rice of a good or service to enable the producers to earn a profit
private enterprise system an economic system in which individuals and grops rather than government own or control the means of production also know as a free market
private sector that part of the economy that is owned and contolled by individuals and/ or businesses
public goods goods and services that are used by all people cannot be withheld from people who don't help pay for them
public sector that part of the economy that is owned and operated by government at all levels
subsidy gverment financial help given to a business
tariff a tax on imported goods also called duty
Created by: Ethan.r
 

 



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