Government Protection Activities

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Presentation transcript:

Government Protection Activities Chapter 4-2

Government in Society Government plays a role in all economic systems

Roles of Government Providing services for members of society Protecting citizens, consumers, businesses, and workers Regulating utilities and promoting competition Providing information and support to businesses Buying goods and services Hiring public employees Raising revenue

Levels of Government Federal – oversees the activities that involve two or more states or other countries Interstate commerce is business dealings involving companies in more that one state State – regulates business actions within their own borders Intrastate commerce is business dealings involving companies that do business in only one state Local – provides services needed for an orderly society, such as police and fire protection

Government Protection Activities Worker Protection – government inspection and regulation of work areas help reduce the number of job-related accidents. OSHA

Contract Enforcement A contract is an agreement to exchange goods or services for something of value, usually money. Without contract enforcement people would be afraid to do business for fear that people could refuse to honor commitment.

Element of a Contract Agreement – an offer must be made and an acceptance must occur Competent Parties - those entering into the contract must be of legal age and must be mentally competent Consideration – something of measureable value must be exchanged by the parties involved Legality – the contract must be for a product or service that may be legally sold

Protection of Intellectual Property Intellectual property is intangible with no physical characteristics. Patent – gives the inventor the sole right to make, use, or sell the item for 17 years Copyright – protects the creative work of authors, composers, and artists. Copyright protection lasts for the life of the artist and may extend for 50 years after the persons death. Trademark – a word, letter, or symbol linked to a specific company or product.

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