Unit 8: Role of Government & International Trade Review

What does FCC stand for?

• Federal Communication Commission

• Federal Communications Committee

• Federal Control Commission

• Federal Commerce Council

What does EPA stand for?

• Environmental Protection Agency

• Energy Protection Association

• Environmental Policy Alliance

• Earth Preservation Agency

What does FTC stand for?

• Federal Trade Commission

• Federal Telecommunications Commission

• Federal Transportation Council

• Federal Taxation Committee

Engaging in what activity supports marketplace competition?

• Local trade

• Global trade

• Monopolistic practices

• Business restrictions

Which of the following are examples of the government supporting marketplace competition?

• Implementing price controls on all goods
• Promoting government-owned enterprises
• Discouraging monopolies

• Promoting marketplace competition

Public goods and services would likely be unavailable if individuals had to provide them.

• True

• False

Which of the following are examples of a public goods and services?

• Interstate highways

• Private schools

• National Defense

• Postal Service

Public goods and services are financed from tax revenue, borrowed funds, and _______.

• user fees

• donations

• foreign aid

• lottery funds

Who protects public health and safety?

• Government agencies

• Private corporations

• Non-profit organizations

• Individual citizens

Match the following based on whether it is a cost or benefit of International Trade.

Groups:

(a) Benefits

,

(b) Costs

• Wider variety of goods

• Relocation of Companies

• Loss of jobs

• Increased competition

• Sell to other countries

• Lower prices