EPF..E.3.2 (Economics & Personal Finance)

What is the term for rules made by the government to control how businesses operate ?

• Tax

• Regulation

• Monopoly

• Competition

Which of the following refers to when one company or group controls most or all of a market, reducing competition?

• consumer protection

• monopoly

• subsidy

• price control

What is the term for money that people or businesses must pay to the government to fund public services?

• subsidy

• tax

• regulation

• competition

What is financial assistance provided by the government to help businesses or industries, often to make prices lower or encourage certain activities?

• price control

• monopoly

• tax

• subsidy

What is the term for when different businesses try to attract customers by offering better prices or products?

• Consumer protection

• competition

• regulation

• supply and demand

What is the term for laws that protect people from unfair business practices and ensure they are safe when buying goods or services?

• supply and demand

• price control

• consumer protection

• monopoly

What is the government-imposed limit on how high or low a price can be for goods or services?

• subsidy

• price control

• regulation

• competition

What term refers to the relationship between how much of something is available and how much people want it, which affects prices?

• supply and demand

• tax

• monopoly

• consumer protection