7-4 vocabulary jw
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| A set of rules or laws designed to control business behavior | Regulation
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| Defines monopolies and gives government the power to control them. | Antitrust legistration
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| A group of firms combined in order to reduce competition in an industry. | Trust
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| The joining of two firms to form a single firm. | merger
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| Occurs when businesses agree to set prices for competing products. | Price fixing
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| Occurs when competing businesses divid a market amongst themselves. | market allocation
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| Occurs when businesses set prices below cost for a time to drive competitors out of a market | predatory pricing
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| Requires a firm to stop an unfair business practice. | cease and desist order
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| a policy that requires businesses to reveal product information | Public disclosure
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| reduces or removes government control of business | deregulation
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