Examlex
Pluralism means __________.
Barriers to Entry
Factors that make it difficult for new firms to enter a market, such as high startup costs, stringent regulations, or strong competition from existing firms.
Administered Prices
Prices that are set by the company rather than determined by market demand and supply conditions; often found in less competitive markets.
Cartel
An association of independent businesses or countries agreeing to coordinate their production and pricing to monopolize a market or maximize profits.
Cutthroat Competition
Cutthroat competition describes an extremely competitive market situation where participants engage in aggressive price-cutting and other practices to gain market share.
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