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INSTRUCTIONS for Questions 112-117: Match Each Description Below with the Term

question 8

Multiple Choice

INSTRUCTIONS for questions 112-117: Match each description below with the term it best describes.
-Study of use and structure of time


Definitions:

Price-fixing

An illegal agreement among competitors to sell a product or service at a predetermined price, rather than letting market forces dictate pricing.

Regional Monopolies

Companies or entities that exclusively control the supply of a particular good or service in a specific geographic area.

OPEC Cartel

The Organization of the Petroleum Exporting Countries, a group of oil-producing nations that coordinates policies and prices of petroleum.

World Supply

The total amount of a particular good or service that is available for purchase on the global market.

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