Cards in this guide (16)
Compulsory education restricts whose freedom
What is the purpose of consumer advocacy groups
to promote the interest of consumer
When the government runs a budget deficit what must it eventually do in order to pay back its debt
Freedom of expression is limited by what
one of the circumstances for freedom of expression is censorship.
What is one effect of a price floor
Which of these is a group of producers working together to raise prices and increase profits
What happens to the expenses involved in compliance with government regulations
passed on to the consumer
What is one drawback to consumer-protection regulations
Higher costs for production, leading to higher consumer
prices.
What is an example of trade restriction
Tariffs and embargos are trade restrictions.
Which of these is not an example of a trade restriction A Tariffs B Quotas C Rationing D Subsidies
for a similar question:
taking land to build an airport
What is one thing the government must do to enforce consumers protection regulations
Test new products for safety and effectiveness.
What gives companies an anti competitive impulse
An anti competitive impulse is given to a company through the
profit motive.
How can the government prevent speculators from rushing into and out of a country's market and disrupting its economy
by using capital controls
What effect do consumer - protection regulations have on the circular flow of the free market system
What is an example of a labor law in economics
A restriction on when a union may call a strike
Match each type of unfair business practice with its description (apex)
1.Vendor lock in: a company say a wide range of product can be used with its products but this is not true.
- Price fixing: a group of companies agree that all of them will charge the same price.
3.Predatory pricing: a large company charges a price below production cost in order to eliminate small competitors.
