Chapter 11 POB

In a market economy, a country's economic health depends on businesses doing well

The act of a company controlling an industry or being the only one to offer a product/service

A name, symbol, or characteristic that identifies a product is a

The legal grant for the sole right to own an invention

Contracts are only valid when written.

___ occurs when one party fails to live up to the terms of a contract.

A document that gives artists the legal right to own their creations

Government is the largest provider of services in the country.

Worker protection laws

Intrastate commerce is overseen by

Governments allocate resources by

A group of companies that band together to form a monopoly and cut out competition.

___ means hiring a business to offer a public good or service.

The FTC stands for

No one can copy a patented product or process without permission

The US government passed antitrust laws to

People and businesses mainly pay for government provided goods and services through taxes.

The ___ is the largest employer in the United States.

The act of a small number of companies controlling an industry

Temporary reduction or elimination of tax that is meant to encourage or discourage an activity

___ commerce is business that takes place within states.

Income that governments get from all sources

Which is an example of privatization?

The largest provider of services in the country is

Monopolies limit choice, but oligopolies promote choice.

A tax break is

Grants given to producers or consumers to lower the costs they face

The following are public goods except

Local taxes pay for

In the US, the length of a copyright term is the life of the author plus

There are three levels of government: federal, ___, and local.

One of the government's roles is to

All of the following are transfer payments except