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7-4 vocabulary jw

QuestionAnswer
A set of rules or laws designed to control business behavior Regulation
Defines monopolies and gives government the power to control them. Antitrust legistration
A group of firms combined in order to reduce competition in an industry. Trust
The joining of two firms to form a single firm. merger
Occurs when businesses agree to set prices for competing products. Price fixing
Occurs when competing businesses divid a market amongst themselves. market allocation
Occurs when businesses set prices below cost for a time to drive competitors out of a market predatory pricing
Requires a firm to stop an unfair business practice. cease and desist order
a policy that requires businesses to reveal product information Public disclosure
reduces or removes government control of business deregulation
Created by: joannw15
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