Chapters Review

It is a standard of value and a means of exchange or payment.

• money

• monetary system

• tax

• revenue

This is a business that takes place within states.

• Interstate commerce

• Intrastate commerce

• e-commerce

This occurs when a small number of companies control an industry.

• duopoly

• monopoly

• oligopoly

• perfect competition

This occurs when one party fails to live up to the terms of contract.

• End of contract

• breach of contract

• fixed contract

It is a legal grant for the sole right to own an invention.

• copyright

• trademark

• creative rights

• patent

These are the ways to protect creative properties

• copyright

• creative rights

• patent

• trademark

It is a government expense that is provided to help people.

• employment

• transfer payment

• salary

• services

this is an amount of money people and businesses pay governments to help run nation, state, country, city or town.

• tax incentive

• revenue

• subsidies

• tax

What do you call a firm that manages money?

• financial institutions

• bank

• federal state

• All

it is a property or goods pledged by a borrower to use as security against a loan if it is not paid.

• buildings

• commercial property

• collateral

• All