The Government and the Economy Page 81 What sound do porcupines make when they kiss? “OUCH!”

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Presentation transcript:

The Government and the Economy Page 81 What sound do porcupines make when they kiss? “OUCH!”

Standard 13a Essential Understandings: The government promotes and regulates marketplace competition. Essential Questions: How does the United States government promote and regulate marketplace competition? Vocabulary: antitrust legislation, monopoly, FCC, EPA, FTC

Candy Questions

Who must ratify amendments to the U.S. Constitution?

Which purpose of the government according to the Preamble is illustrated here?

Which early document stated grievances against the King of Great Britain?

Which fundamental political principle means that we elect people to write laws and run the government for us?

What is the number one way that our government makes money?

that which is given up when a choice is made? In economics, what do we call that which is given up when a choice is made?

What is the worldwide economic market called?

Who acts as intermediaries between borrowers and savers?

What is a form of business ownership with two or more owners who share risks and profits?

What is the economic term that refers to earnings after all expenses have been paid?

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Ways the Government Promotes Marketplace Competition Enforcing antitrust legislation to discourage the development of monopolies Engaging in global trade Supporting business start-ups

Government Agencies that Regulate Business FCC: Federal Communications Commission The Federal Communications Commission regulates interstate and international communications by radio, television, wire, satellite and cable in all 50 states, the District of Columbia and U.S. territories.

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EPA: Environmental Protection Agency The United States Environmental Protection Agency (EPA) implements federal laws designed to promote public health by protecting our Nation's air, water, and soil from harmful pollution.

FTC: Federal Trade Commission To prevent business practices that are anticompetitive or deceptive or unfair to consumers; to enhance informed consumer choice and public understanding of the competitive process; and to accomplish this without unduly burdening legitimate business activity.

While watching the following video, color each of the agencies we learned about today – the EPA, FTC, and FCC. Put this on the left side of notebook.

Government Regulation Video 26 Minutes