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TermDefinition
Disposable Income The amount of money people have to spend or dispose of
Federal Communications Commission A government regulatory agency that regulate interstate and international communications
Federal Trade Commission A government regulatory agency that administers and enforces antitrust laws to prevent price fixing
Fiscal policy The government policy that sets levels of government spending and taxation
Food and Drug Administration The regulatory agency established 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
Natural Monopoly A single business that influences the entire production of a particular good cause it is in the best interests of the public
Occupational Safety and Health Administration A federal government agency that writes and enforces safety and health standards
Price Discrimination An illegal activity in which a business charges different customers different prices
Price Supports Assistance by government in maintaining the price of a good or service
Private enterprise system An economic system in which individuals and groups, rather than government, own or control the means of production
Private Sector That part of the economy that is owned and controlled by individuals and business
Public Goods Goods and services that are used by all people and cannot be withheld from people who don't pay for them
Public Sector That part of the economy that is owned and operated by government at all levels
Subsidy Government financial help given to a business
Tariff Tax on imported goods
Created by: catonieca
 

 



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