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Gov. in the Economy

Civics (Unit 11)

TermDefinition
Antitrust legislation laws against monopolies and trusts
Consumer Product Safety Commission (CPSC) government agency that protects consumers from faulty products
Currency medium of exchange for goods and services
Environmental Protection Agency (EPA) agency which protects the nation’s air, water and soil quality
Equal Employment Opportunity Commission (EEOC) agency responsible for enforcing federal discrimination laws
Federal Communication Commission (FCC) agency responsible for regulating the radio, TV, and phone industries
Federal Reserve System central bank of the US that works to maintain low and stable inflation
Federal Trade Commission (FTC) agency responsible for enforcing antitrust legislation and promoting fair competition
Food and Drug Administration (FDA) agency responsible for regulating the production of food, medicine, & cosmetics.
Income tax payments made by individuals and corporations based on income received.
Inflation a general increase in prices and fall in the purchasing value of money
labor work; especially physical work
monopolies a business that owns all of a particular good or service
Occupational Safety and Health Administration (OSHA) agency responsible for ensuring safe and healthful working conditions
Property right a legal claim of ownership
Property tax tax levied on land and buildings (cars or boats, too)
recession period of economic decline where trade and economic activity are reduced/slowed
Sales tax tax consumers pay on items purchased which is a percentage of the sales price
Securities and Exchange Commission (SEC) agency responsible for protecting investors
simultaneously at the same time
Created by: rn.wang
Popular American Government sets

 

 



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