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The Role of Government in Our Economy chapter 11 Flashcards | StudBud
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The Role of Government in Our Economy chapter 11
What is a breach of contact?
Interstate Commerce is...
The Role of Government in Our Economy chapter 11
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1
Interstate Commerce is...
States trade with other countries
Trade between two or more states
Meetings between states
The start of the Black Market
2
What is a breach of contact?
A person who performed their contract duties
Failure to provide complete performance
An outdated term that is no longer in use
When someone doesn't want to be in a contract anymore
3
What is privatization?
people owned land
government owned land
occurs when the government sells its industries to people
private land
4
Revenue
income of a company or organization & of substantial nature.
opposite or contrary to a previous or normal condition
to keep (something) for a special or future use
printing proof that incorporates change in a previous proof
5
Which of the following is a legally enforceable contract?
travelling on the bus
Price tag at Coles
a 16 year old person ordering specially made clothes
Offering to drive your friend home
6
Subsidies are
taxes the government charges
issues the government debates
graphs and analytics
funds that the government provides
7
How is government funded?
through roads
through a tunnel
through taxes
through unemployment rate
8
Is this a copyright logo?
Yes
No
Maybe
Idk
9
Trademark is
mark to show your trade
identification device in the form of a symbol or logotype
none of the above
starting point on a computer
10
What is a copyright?
a television or radio advertisement
printed work with pages glued together and bound in covers
legal right to control the selling /production of materials
any nutritious substance that people or animals eat or drink
11
What is copyright?
You can use it when ever
a legal form that helps makers keep their items safe
A thought that you told no one about but it is yours
A circle with a c
12
what is tax
a present of money withdraw from the price
a present of money add to the original
13
What IS a Patent
An invention
A creation
A thought
A paper giving the right to make & sell your invention
14
Breach of Contract
Civil Law
Criminal Law
Neither
Both
15
What is privatization?
When a business offers a public good/service & Not the Govt
Eating apple sauce with a knife
when the government makes chinese food illegal
being private on instagram
16
What is a contract?
type of employer
agreement between two parties to exchange goods or services
work enviorment
17
to violate the terms of a contract
ratify
acceptance
fraud
breach
18
Monetary grants given to producers or consumers to encourage certain behaviors.
Subsidies
Incentives
Tax relief
Grants
19
Antitrust laws exist to try to
counteract trust laws
regulate the power of huge businesses
prevent monopolies
20
An oligopoly is:
The complete opposite of monopol
a few firms control the market, high barriers to entry
one firm controlling a market
Low barriers to entry, many firms in the market
21
What is Monopoly?
control
meaning of product
product
Exclusive control over a product or means of producing it.
22
Which of the following is an example of trademark?
The Nike Swoosh
Donald Trump
Goldfish® Crackers
Tony the Tiger
23
A patent can protect
an artist's ownership of a painting
A musician's ownership of a song
A writer's ownership of a novel
an inventor's ownership of a device
24
What is a trust?
Group of associates hold stock from group of combined firms
Group who holds the stock together.
Group who trusts the corporation
A group of workers that trust the corporation to run better.
25
4 ways government regulates business?
business agreements
government protects competition
creative properties
allocate
26
Intrastate commerce is ...
trade with another country
trade within a state's own borders
trade from state to state
trade at the flea market
27
What is tax incentive?
truly, honestly.
a gift given if you pay your taxes
tax imposed to encourage certain behavior or discourage
scam today before today scams you
28
Antitrust laws do not allow the government to ____
take over monopolies
break up monopolies
finance monopolies
regulate monopolies
29
Which is not an advantage of privatization?
Increased competition
Government will raise revenue from the sale
Improved efficiency
Natural monopoly
