government owns and offers all the goods and services and decides what those goods and services will cost

taxes on goods from other countries and make foreign items more expensive

companies compete against each other with no government interference at all

most goods and services are offered by private companies

government owns some property, offers some kinds of goods and services, and makes some rules that affect how businesses can compete

created to stop companies from competing unfairly

Prohibits monopolies and other activity that reduces competition

gives the U.S. government the power to prevent companies from merging together if the merger will reduce competition

prohibits companies from any activity in “restraint of trade,” meaning activity that reduces competition

helps people control their finances and use credit wisely

the fee charged for the right to borrow money

the rise of prices over time

a medium of exchange that sets a common standard of value

put money into a bank account

people who take risks to start a new business

coins and paper money printed by the government

paying a bank to let you borrow money

a person’s source of money, dependent on the ability to produce

the central bank of the United States

take money out of a bank account

money that a bank keeps and does not lend out

company that keeps track of your credit history

money spent in order to make more money

someone who makes goods or offers services to others

someone who acquires goods and services for his or her own personal use

financial gain received by selling something for more than it cost to make it

producers battle over who can make the most profit

the amount of something that is available, and the number of people who want it

the benefit you give up by choosing to do one thing instead of another

limited amount of resources available

process of developing newer, better things

motivates companies to produce things

the way goods and services are produced and consumed

only applies to certain products, such as alcohol and tobacco

tax you pay on money you receive from various sources, such as a job

tax on profits made by corporations

the more income or profit a person or company has, the higher tax rate they pay

tax people pay on land they own

tax the government collects when a person dies

tax on goods that are imported to the United States from other countries

tax you pay when you buy something

percentage of an employee's wages that goes to the federal government

plan for spending

government maps out how much money it plans to spend each year

spending that is required by law; would take a new law to change it

spending that Congress decides on each year

government brings in more money than it spends

government spends more money than it brings in

IOU's that people buy from the government because they know they will get more money back than they put in

percentage of an employee's wages that goes to the state government

prohibits companies from any activity in “restraint of trade,” meaning activity that reduces competition

the amount of money in an employee's paycheck before any deductions have been taken out

the amount of money left in an employee's paycheck after all the deductions have been taken out; amount of money an employee takes home

how much an employee is paid per hour

money that is subtracted or taken out from your pay

beginning from the 1st of January (or the time the employee began working for the company) until now in the current year