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Principles of Business, Marketing, and FinanceLesson Fourteen
The Role of Government The Role of Government in a in a
Private Enterprise System Private Enterprise System
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Government in SocietyGovernment in Society
• Roles of Government– providing services for members of
society– protecting citizens, consumers,
businesses, and workers– regulating utilities and promoting
competition– providing information and support to
businesses– buying goods and services– hiring public employees– raising revenue
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Levels of Levels of GovernmentGovernment
• Federal Government– Regulates foreign commerce– Regulates interstate
commerce-business involving companies in more than one state
• State Government– Regulates intrastate
commerce (business dealings involving companies that do business in only one state)
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Levels of GovernmentLevels of Government
• Local Governments– County boards– City or town councils– Provide police, fire
protection, public schools
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Government Protection ActivitiesGovernment Protection Activities• Citizens
– Protected through police and fire-fighting services
– National armed forces provide national defense
• Worker Protection– Laws for a safe work environment
(OSHA) Occupational Safety and Health Administration
– Government inspections and regulation of work areas help reduce the number of job-related accidents
– Cannot be denied employment due to race, religion, sex or age
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Contract EnforcementContract Enforcement• Contract
-an agreement to exchange goods or services for something of value (usually money)
• Elements of a Contract– Agreement– Competent parties– Consideration– Legality
• Consumers and businesses benefit from government enforcement of contracts
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Protection of Intellectual Protection of Intellectual PropertyProperty
• Patent
-gives the inventor the sole right to make, use, or sell the item for 20 years
• Copyright
-protects creative work of authors, composers, and artists for 70 years beyond the death of those individuals
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TrademarkTrademark
• a word, letter, or symbol linked with a specific company or product– Businesses register company names, team
emblems, and label designs with the government
– A trademark can be very valuable
– Many trademarks are famous all over the world and are often identified with a symbol (logo)
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Government Regulatory ActivitiesGovernment Regulatory Activities
• Regulate Utilities– Public utility-an
organization that supplies a service or product vital to all people
– Companies that provide local telephone service, water, and electricity
– Most utility companies are privately owned and closely regulated by the government
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Government Regulatory Government Regulatory ActivitiesActivities
• Prevent Unfair Business Practices– Promote fair competition
– Prevent monopolies
– Antitrust laws-promote competition and fairness to avoid monopolies
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Government Assists Government Assists BusinessBusiness
• Collects valuable information (census)
• Small Business Administration (SBA)-helps new businesses get started by guaranteeing private bank loans
• Government provides assistance for natural disasters
• Government buys goods and services
• Government employs workers
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Government Raises Government Raises MoneyMoney
• Taxes– On earnings– On the value of property– On the sale price of
goods and services
• Borrowing– Issue bonds– Pay interest on the
bonds– Bonds are backed by the
government (decreasing risk for investors))
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