Chapter 4 Review

A _________ exists when a business has control of the market for a product or service.

Income taxes are the largest source of revenue for the ________ government

• state

• federal

• local

• regional

Property taxes are a major source of income for the __________ government.

• state

• federal

• local

• regional

Sales taxes on goods and services are _____ taxes and ______ taxes. (Choose 2 answers)

• state

• federal

• local

• regional

Antitrust laws are designed to

• reduce utility rates

• lower taxes

• create more jobs

• maintain competition

A monopoly could be an advantage to consumers.

• True

• False

Match the following

• trade secret

• Protects the creative work of authors, composers, and artists

• patent

• Word, letter, or symbol for a specific company or product.

• trademark

• Gives an inventor the sole right to make, use, or sell the item.

• copyright

• Not disclosing information from another company

A ______ is an agreement to exchange goods and services for something of value, usually money.

What are the 3 levels of government? (top down)

Match the following

• Job Safety

• Workplace is free from hazardous and dangerous situations

• Environmental Protection

• Workplace promotes the health of its employees

• Workplace Diversity

• Workplace considers how resources can affect the community

• Employee Wellness

• Hiring competent people regardless of age, nationality, sex, etc.