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Aspects of Bussiness

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Question
Answer
Monopoly   Exists when competition is lacking for a product or service, or when producers are in a position to control the supply and price of goods or services.  
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Price Discrimination   Setting different prices for different customers.  
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False Advertising   Advertising that is misleading in a material respect or in any way that could influence the customer's purchase or use of the product.  
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Bankruptcy   A legal process that allows selling assets to pay off debts.  
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Patent   An agreement in which the federal government gives an inventor the sole right for 20 years to make, use, and sell an invention.  
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Copyright   Similar to a patent in that the federal government gives an author the sole right to reproduce, publish, and sell literary or artistic work for the life of the author plus 70 years.  
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Trademark   A distinguishing name, symbol, or special mark placed on a good or service that is legally reserved for the sole use of the owner.  
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Information Liability   Responsibility for physical or economic injury arising from incorrect data or wrongful use of data  
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Cookies   Files of information about the user that some Web sites create and store on the user's own computer.  
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Interstate Commerce   Business operations and transactions that cross over state lines.  
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Intrastate Commerce   Business transacted within a state.  
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Licensing   A way to limit and control those who plan to enter certain types of businesses.  
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Public Franchise   A contract that permits a person or organization to use public property for a private profit.  
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Building Codes   Codes that regulate physical features of structures.  
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Zoning   Regulations that specify which land areas may be used for homes and which areas may be used for different types of businesses.  
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