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Lesson 4
Government Regulations
| Term | Definition |
|---|---|
| Disposable income | The amount of money people have to spend, or dispose of, after they have paid their taxes; also called discretionary income |
| Federal Communications Commission (FCC) | A government agency that regulates interstate and international communications by radio, television, wire, satellite, and cable |
| Federal Trade Commission (FTC) | A government regulatory agency that administers and enforces antitrust laws to prevent price fixing and to prohibit unfair competitive practices |
| Fiscal policy | The government policy that sets levels of government spending and taxation |
| Food and Drug Administration (FDA) | The regulatory agency established by the federal government to enforce laws that protect consumers’ health |
| Licensing | Issuing a government permit that allows an individual or a business to function in the marketplace |
| Monetary policy | The government policy that determines the amount of money that will be in circulation and the level of interest rates |
| Monopoly | A condition in which a market is controlled by one supplier with no substitute goods or services readily available |
| Natural monopoly | A single business that influences the entire production of a particular good or service because it is in the best interests of the public for the business to do so |
| Disposable income | The amount of money people have to spend, or dispose of, after they have paid their taxes; also called discretionary income |
| Federal Communications Commission (FCC) | A government agency that regulates interstate and international communications by radio, television, wire, satellite, and cable |
| Federal Trade Commission (FTC) | A government regulatory agency that administers and enforces antitrust laws to prevent price fixing and to prohibit unfair competitive practices |
| Fiscal policy | The government policy that sets levels of government spending and taxation |
| Food and Drug Administration (FDA) | The regulatory agency established by the federal government to enforce laws that protect consumers’ health |
| Licensing | Issuing a government permit that allows an individual or a business to function in the marketplace |
| Monetary policy | The government policy that determines the amount of money that will be in circulation and the level of interest rates |
| Monopoly | A condition in which a market is controlled by one supplier with no substitute goods or services readily available |
| Natural monopoly | A single business that influences the entire production of a particular good or service because it is in the best interests of the public for the business to do so |
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tamaralamb
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