business and whatnot.
Terms
undefined, object
copy deck
- inter
- federal government crossing boundaries
- embargo
- when the government decides to stop an import or export of a product
- tax incentives
- to encourage socially responsible behavior government offers businesses reductions in taxes
- deposit
- money put into the bank
- antitrust laws
- allow the government to break up monopolies and regulate them or take them over
- protectionism
- the practice of putting limits on foreign trade to protect business at home
- sixth benefit
- helps all countries raise their standard of living
- intrastate commerce
- business within each state
- third aspect
- protecting creative properties
- interstate commerce
- the federal government focuses on business that takes place all across the states
- electronic funds transfer (EFT)
- move money around
- balance of trade
- a country wants to have more money coming in than going out. the difference in value between how much a country imports and how much it exports
- exports
- goods and services that one country sells to another country
- fourth aspect
- regulating production process
- collateral
- something valuable you put up for a loan such as a car or a coin collection
- fourth benefit
- consumers have more choice in variety
- subsidies
- payments the government gives to businesses to make up for their losses
- withdrawal
- money taken out
- revenue
- the money the government takes in
- tariff
- a tax placed on imports to increase their price in the domestic market
- patent
- gives you the sole right to own an invention
- moneys first basic function
- medium of exchange
- intra
- state inside
- fifth benefit
- promotes cultural understanding and cooperation between countries
- trust
- rival companies can also form a monopoly by banding together agreeing not to compete with each other
- second benefit of free trade
- creates new jobs especially in global trade
- world trade
- trade with many countries
- second trade alliance
- European Union (EU)
- moneys second function
- standard of value
- mortgage
- a deed to give the lender property if the loan is not paid back
- interest
- a rate the bank pays you for keeping your money there
- the first trade alliance
- North American Free Trade Agreement (NAFTA)
- second aspect
- protecting tax agreement
- free trade
- supporters to believe there should be no limits to trade
- what would be considered a defecit?
- imports more than exports
- bank account
- a record of how much money a customer has put in to or taken out of the bank
- moneys third function
- store of value
- financial institution
- the banking system it is the organization for managing money in our economy
- exchange rate
- the price at which one currency can buy another currency
- foreign exchange
- a number of banks around the world that come together and exchange money
- in this chapter what would be considered a surplus?
- export more than import
- quota
- a limit placed on quantities of a product that can be imported
- money
- can be anything that people accept as a standard of payment
- contract
- a legal agreement between two or more parties to conduct a business
- federal reserve system (FED)
- central banking organization in the United States
- third benefit
- competition forces business to be more efficient
- multinational corporation
- a company that does business in many countries and has facilities and offices in many countries around the world
- third trade alliance
- Association of Southeast Asian Nations (ASEAN)
- the four types of loans
- mortgage, commercial, individual, and line of credit
- first aspect
- protecting competition
- oligopology
- when a small number of companies control the market without actually forming a trust
- monopoly
- a company that controls an entire industry
- domestic trade
- trade within a country
- first benefit of free trade
- opens new markets in other countries
- copyright
- gives artists the sole right to own their creations. for example plays, photos, music, paintings, and books
- the characteristics of money
- scarce, accepted, divisible, and portable and durable
- Is the United States a material or natural resources provider?
- material provider
- monetary system
- goods and services are indirectly exchanged using money which can then be exchanged for other goods and services
- trademark
- a brand name, trade name, trade characteristic, or a combination of these that is given legal protection by the federal government
- breach of contract
- when one party fails to live up to the terms of a contract
- imports
- goods and services that a country buys from another country
- federal trade commission
- what does FTC stand for
- global market
- anywhere trade takes place
- safety deposit boxes
- storing valuable items like jewelry or certificates