1. Government Protection Activities
Chapter 4-2

2. Government in Society
Government plays a role in all economic systems

3. 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

4. Levels of Government
Federal – oversees the activities that involve two or more states or other countries
Interstate commerce is business dealings involving companies in more that one state
State – regulates business actions within their own borders
Intrastate commerce is business dealings involving companies that do business in only one state
Local – provides services needed for an orderly society, such as police and fire protection

5. Government Protection Activities
Worker Protection – government inspection and regulation of work areas help reduce the number of job-related accidents.
OSHA

6. Contract Enforcement
A contract is an agreement to exchange goods or services for something of value, usually money.
Without contract enforcement people would be afraid to do business for fear that people could refuse to honor commitment.

7. Element of a Contract
Agreement – an offer must be made and an acceptance must occur
Competent Parties - those entering into the contract must be of legal age and must be mentally competent
Consideration – something of measureable value must be exchanged by the parties involved
Legality – the contract must be for a product or service that may be legally sold

8. Protection of Intellectual Property
Intellectual property is intangible with no physical characteristics.
Patent – gives the inventor the sole right to make, use, or sell the item for 17 years
Copyright – protects the creative work of authors, composers, and artists. Copyright protection lasts for the life of the artist and may extend for 50 years after the persons death.
Trademark – a word, letter, or symbol linked to a specific company or product.

9. Logos