Business Terms- Government Terminology

Question 0

Taxes- local, state and federal

Answer 0

How public sector services are paid for.

May be through income, property, or sales tax.
May be progressive: wealthy pay more as percentage of income
May be regressive: poor pay more as a percentage of income

Question 1

Public Sector

Answer 1

Government organizations providing services.

Question 2

True or false: Texas uses progressive taxation system

Answer 2

False: Regressive taxation

Question 3

True or false: Vermont uses a progressive taxation system

Answer 3

True

Question 4

Legislature

Answer 4

Body of elected officials creating laws and regulations governing business activity and many other areas.
May be city, county, state, or national.

Question 5

Lobbyists

Answer 5

People who are hired to influence legislatures to act in a certain way toward legislation.

Law firms, universities, trade associations,and public-interest groups all hire lobbyists.