Period1- F/L Quiz Unit 4-Economic and Government Influences

Federal and state statutes and regulations that promote product safety and prohibit abusive, unfair, and deceptive practices.

an unwritten guarantee that the good or service is fit for the purpose for which it was sold

warranty specified through oral or written communications

Body of laws governing uniform and fair dealing with transactions in the United States.

the method used by a society to produce and distribute resources, services and goods across a country.

an economic system in which the market determines production, distribution, and price decisions, and property is privately owned

refers to obligations that organizations have (1) to the preservation of the ecological environment and (2) to the general public.

by making money, save money and invest money.

are measures by which the government attempts to influence the economy through two main ways: fiscal and monetary policies.

Government policy that attempts to manage the economy by controlling taxing and spending.

Government policy that attempts to manage the economy by controlling the money supply and thus interest rates.

the percentage increase in the price level from one year to the next

A fiscal tool of government designed to bolster a weak economy and create jobs via public works projects and deficit spending.

A slowdown in a nation's economy

organizations that seek to influence government in order to achieve some or all of their goals.