Entrepreneurship I: Objective 2.02 Vocabulary Test

The amount of money people have to spend, or dispose of, after they have paid their taxes; also called discretionary income.

• Price Supports

• Disposable Income

• Tariff

• Monetary Policy

A government agency that regulates interstate and international communications by radio, television, wire, satellite, and cable.

• Food and Drug Administration (FDA)

• Federal Communications Commission (FCC)

• Federal Trade Commission (FTC)

• Occupational Safety and Health Administration (OSHA)

A government regulatory agency that administers and enforces antitrust laws to prevent price fixing and to prohibit unfair competitive practices.

• Federal Communications Commission (FCC)

• Food and Drug Administration (FDA)

• Federal Trade Commission (FTC)

• Occupational Safety and Health Administration (OSHA)

The government policy that sets levels of government spending and taxation.

• Fiscal Policy

• Monetary Policy

• Price Supports

• Price Discrimination

The regulatory agency established by the federal government to enforce laws that protect consumers’ health.

• Federal Communications Commission (FCC)

• Federal Trade Commission (FTC)

• Occupational Safety and Health Administration (OSHA)

• Food and Drug Administration (FDA)

Issuing a government permit that allows an individual or a business to function in the marketplace.

• Tariff

• Subsidy

• Licensing

• Monetary Policy

The government policy that determines the amount of money that will be in circulation and the level of interest rates.

• Price Supports

• Fiscal Policy

• Monetary Policy

• Tariff

A condition in which a market is controlled by one supplier with no substitute goods or services readily available.

• Monopoly

• Price Discrimination

• Private Enterprise System

• Public Sector

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.

• Monopoly

• Natural Monopoly

• Private Sector

• Public Sector

A federal government agency that writes and enforces safety and health standards for businesses.

• Federal Trade Commission (FTC)

• Food and Drug Administration (FDA)

• Occupational Safety and Health Administration (OSHA)

• Federal Communications Commission (FCC)