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| products that are the same o similar; easily substituted. |
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| products that are the same or similar; easily substituted. |
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| action taken by industry leader (i.e. Nike) to raise the price; other large firms follow suit. |
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| a firm that has contorl over the price of the product sales; no competetion |
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| Bills and acts designed to monitor and regulate big business, prevent monopolies |
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| a firm that takes the market price determined by supply and demand |
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Definition
| the oldest, complest, most common form of business orgainzation in the United States |
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| when one company joins with or absorbs another |
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| when a merger consists of companies that produce unrealted products. |
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| Type of business where multiple people own an operate a business. Two types: General and Limited. |
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