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Business Studies

Analysing the external environment: the legal environment

TermDefinition
Cartels Exist when two ore more businesses collude to control prices and/or production levels to limit the extent of competition within a market.
Anti-competitive practices Actions taken by businesses to limit the extent or rivalry that exists within a particular market, or the use of unfair trading activities.
Dominant market position A position of economic strength enjoyed by a business which enables it to prevent effective competition being maintained within a market.
Merger The joining together of two businesses to form a new, larger enterprise.
Takeover Occurs when one business buys a controlling interest in another.
Collective bargaining The process of negotiating the terms of employment between an employer and a group of workers.
Trade unions Organisations of workers established to protect and improve the economic position and working conditions of its members.
Created by: adele199
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