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Unformatted text preview: percentage reduction in value since the previous year 11. Recession-a period of economic activity characterized by negative growth, which reduces demand for goods and services 12. Basic research-pure research that aims to confirm an existing theory or to learn more about a concept or phenomenon 13. Applied research-an attempt to develop new or improved products 14. Consumer product safety commission-a federal agency established to protect the health and safety of consumers in and around their homes 15. Federal trade commission-a federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce 16. Food and drug administration-a federal agency charged with enforcing regulations against selling and distributing adulterated, misbranded, or hazardous food and drug products...
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- Fall '10
- Marketing, Consumer Product Safety Commission, federal agency, Baby boomers- people