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Rosa Chapter 7
Vocabulary
Question | Answer |
---|---|
Monopoly | exists when competition is lacking for a product or service, or when producers are in a position to control the supply and price of goods or services. |
Price Discrimination | setting different prices for different customers. |
False Advertising | advertising that is misleading in a material respect or in any way that could influence the customer's purchase or use of the product. |
Bankruptcy | a legal process that allows selling assets to pay off debts. |
Patent | an agreement in which the federal government gives an inventor the sole right for 20 years to make, use, and sell an invention. |
Copyright | similar to a patent in that the federal government gives an author the sole right to reproduce, publish, and sell literary or artistic work for the life of the author plus 70 years. |
Trademark | a distinguishing name, symbol, or special mark placed on a good or service that is legally reserved for the sole use of the owner. |
Information Liability | responsibility for physical or economic injury arising from incorrect data or wrongful use of data. |
Cookies | files of information about the user that some Web sites create and sote on the user's own computer. |
Interstate Commerce | business operations and transactions that cross over the state lines. |
Intrastate Commerce | business transacted within a state. |
Licensing | a way to limit and control those who plan to enter cetain types of businesses. |
Public Franchise | a contract that pemits a person or organization to use public property for private profit. |
Building Codes | codes that regulate physical features of structures. |
Zoning | regulations that specify which land areas may be used for homes and which areas may be used for different types of businesses. |