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POB 5.00 Vocabulary

AB
Antitrust lawsLaws designed to promote competition and fairness and to prevent monopolies.
ContractAn agreement to exchange goods or services for something of value.
CopyrightProtection of the work of authors, composers, and artists
Interstate CommerceBusiness transactions involving companies in more than one state.
Intrastate CommerceBusiness transactions involving companies that do business only in one state.
MonopolyA business that has complete control of the market for a product or service.
PatentThe exclusive right given to a person to make, use, or sell an invention for a period of 17 years.
Property TaxTax on real estate or personal property; the largest source of revenue for most local governments.
Public UtilityA business that supplies a service or product vital to all people; the price charged for service is determined by government regulation rather than by competition.
RevenueGovernment income.
Sales TaxTaxes levied on a variety of goods and services collected at the time of the sale.
TrademarkA word, letter, or symbol associated with a specific product or company.

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