| A | B |
|---|
| assessed valuation | value of property by tax officials |
| bankruptcy | legal process selling off assets to settle debts |
| building codes | regulations of physical features of structures |
| copyright | sole right given to author to reproduce, publish, and sell literary/artistry for life +50 years |
| excise tax | sales tax applying to selected goods and services such as gasoline |
| income tax | tax levied against profits and earnings |
| licensing | a way to limit and control those who plan to enter certain types of businesses |
| monopoly | a company which has an unfair advantage with no competition |
| patent | inventor's sole right to make, use, and sell and invention for 17 years |
| personal property tax | tax on items such as furniture, machinery and equipment |
| progressive tax | tax based on the ability to pay |
| property tax | tax on material goods owned |
| proportional tax | tax that remains the same regardless of amount |
| public franchise | contract to use public property for private profit |
| real property tax | tax on land and buildings |
| regressive tax | tax that decreases as taxable amount increases |
| sales tax | tax on retail price of goods and services at time sold |
| trademark | distinguishing name, symbol or special mark reserved for sole owner |
| zoning | regulations for which areas may be used for different types of business |
| price discrimination | setting different prices for different customers |
| false advertisement | information misleading in a way to influence customers |
| natural monopoly | one company supplies public services such as public utilities |
