stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Review of Government Regulation Flashcards | StudBud
Explore
/
Review of Government Regulation
Review of Government Regulation
11 terms
·
StudBud Administration
·
52 plays
Imported from external platform
Flashcards
11 cards
F
Practice quiz
P
Host live
L
Questions
11
Answers
1
What is one reason why the government regulates businesses?
To make more profits
To protect consumer health and safety
To collect debts from Non-profits
To protect only the rich
2
What is an IMPORT?
A new law from the government frocing people to trade
A product that is traded OUT of a country
A product that is traded INTO a country
3
Which government agency would recall a hair dryer that was dangerous for buyers?
Occupational Safety & Health Administration (OSHA)
Consumer Product Safety Commission (CPSC)
Environmental Protection Agency (EPA)
4
What most likely will happen when two businesses compete?
They will improve the quality of products
They will raise their prices by a lot
They will stop paying their workers
They will make products worse
5
Which of the following would NOT be a reason that countries trade?
To export the goods and services they have
To bring in products they may not have
To create more jobs in the country
To make consumers buy more expensive products
6
Which government agency would make sure products at grocery stores and pharmacies are safe?
Food & Drug Administration (FDA)
Environmental Protection Agency (EPA)
Occupational Safety & Health Administration (OSHA)
7
Which of the following is something that the government would use tax money to pay for?
Car Dealerships
Internet Providers
Roads & Highways
Cable TV
8
Which term means that consumers can make their own choices, that will then determine what goods are made?
Factors of Production
Opportunity Cost
Competition
Consumer Sovereignty
9
What type of taxes do people have to pay based on the money they make over the course of a year?
Sales Tax
Income Tax
Transportation Tax
Property Tax
10
What type of taxes are added on to purchases that are made by consumers?
Toll Road Taxes
Income Taxes
Property Taxes
Sales Taxes
11
Which term means that businesses try to gain more customers and make more money than other businesses?
Consumption
Competition
Factors of Production
Incentives
