CE.13a Questions

All of the following are ways the government promotes competition except

• collecting taxes.

• preventing monopolies.

• encouraging global trade.

• supporting new businesses/start-ups.

Which government agency regulates radio and tv?

• Environmental Protection Agency (EPA)

• Federal Trade Commission (FTC)

• Federal Communications Commission (FCC)

• Social Security Agency (SSA)

Participating in global trade does all the following except...

• support monopolies.

• provide more competition.

• being able to buy goods at a lower cost.

• being able to sell goods at a lower cost.

What does the Federal Trade Commission do?

• They regulate interstate and international communications by radio, television, wire, satellite and cable in all 50 states.

• They aim to protect human health and the environment.

• They protect consumers from unfair business practices, like false advertising, and discourages the development of monopolies.  

The government _____ and _______ marketplace competition.

• dictates and controls

• promotes and regulates

• discourages and sanctions

• oversees and finances

If the state of Virginia decided to buy and sell goods with a foreign company, which governmental regulatory agency would be required to approve the venture?

• Environmental Protection Agency

• Interstate Commerce Commission

• Securities and Exchange Commission

• Federal Trade Commission

The FCC (Federal Communications Commission), SEC (Securities and Exchange Commission), and the FTC (Federal Trade Commission) oversee the way individuals and companies do business.

• True

• False

The SEC (Securities and Exchange Commission) regulates investments, such as stocks and securities, to protect consumers from fraud and help these markets operate efficiently.

• True

• False

In economics, a monopoly is

• a board game.

• a chain of stores or restaurants.

• the exclusive possession or control of the supply of or trade in a commodity or service.

• a corporation.

Most states have ________________, and so does the Federal Government. Essentially, these laws prohibit business practices that unreasonably deprive consumers of the benefits of competition, resulting in higher prices for inferior products and services.

• antitrust laws

• natural economic law

• macro-economic law

• law of supply