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Government's Role in Business

a data set by cstanton
created September 29, 2016
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FAMILY TREE
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TermDefinition
Sherman Antitrust Act of 1890allows the government to break up companies with control of a market; prevents monopolies
Clayton Antitrust Act of 1914 passed to amend and clarify the Sherman Antitrust Act
Federal Trade Commission Act of 1915 established the Federal Trade Commission
Federal Trade Commission promotes fair competition; prevents false/deceptive advertising
Regulationwhen a government sets strict rules affecting businesses within certain industries
Deregulationthe removal or relaxation of the rules affecting businesses within certain industries
Small Business Administration provides low-cost loans, advice and other assistance to small businesses
Environmental Protection Agency created to protect the natural environment in which we live; stresses clean air, land and water; creates laws to prevent businesses from harming the environment
Personal Income Tax percentage of total income deducted from your paycheck; graduated tax
Graduated Taxthe more money you make, the higher percentage of taxes you pay
Corporate Income Taxes federal taxes paid on corporate profits; also imposed by state, local and foreign governments
Property Taxes paid by businesses on land, structures and other property they own
Sales Taxes added to the price of goods and services at the time of purchase
Excise Taxes designed to control potentially harmful practices; are automatically included in the price; produce income which must be used for a purpose related to a tax
Customs Duties “import taxes”; fees imposed on goods brought into the country; designed to protect US businesses against foreign competition; raise the price of imports to a level comparable to the price of domestic merchandise
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