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13 Cards in this Set
- Front
- Back
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Interstate commerce
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Business transactions involving companies in more than one state.
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intrastate commerce
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Business transactions involving companies that do business in only one state.
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Contract
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An agreement to exchange goods or services for something of value.
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Patent
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Gives the inventor the exclusive right to make, use or sell something for 17 years.
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Copyright
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Protects the creative work of authors, composers, and artists.
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Trademark
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a word, letter, or symbol associated with a specific company or product.
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Public Utility
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an organization that supplies a service or product vital to all people.
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Monopoly
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a business that had complete control of the market for a product or service.
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Antitrust laws
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Laws designed to promote competition and fairness to prevent monopolies.
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Revenue
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Government income
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Income tax
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taxes levied on the income of the individuals.
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Property tax
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a tax that is based on the value of the land and the building attached to the land.
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Sales tax
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a state or local tax on goods and services that is collected by the seller.
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