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The central bank of the United States
The Federal Reserve
Economy most goods and services are offered by private companies
Market Economy
Economy where the government owns and offers all goods and services
Command Economy
Economy where both governments and private businesses are involved with goods and services
Mixed Economy
Oldest economic system; known as the barter system
Traditional Economy
When one company controls an entire industry without any competition
monopoly
A tax on goods from other countries
tariff
People who take risks to start a new business
Entrepreneur
prohibit monopolies and other activity that reduces competition
anti-trust laws
one jobs this agency carries out is to stop companies from competing unfairly
Federal Trade Commission (FTC)
An economy where companies would compete against each other with no government involvement at all
"Free Market"
The anti-trust act enacted in 1914.
Clayton
The first anti-trust act.
Sherman
The fee charged for the right to borrow money
interest
The way goods and services are produced and consumed
Economy
Someone who makes a good or service
producer
