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Describe the four trends that have been pointed to as influencers for the role of international business for the future. Explain how these four trends will affect international business.
Normal Profit
The profit level that allows a business to remain competitive in the market, covering its opportunity costs.
Oligopoly Market
A market structure characterized by a small number of firms that dominate the market, leading to competitive yet interdependent market conditions.
Monopolistically Competitive Market
An economic scenario where numerous companies offer products that are alike but not exactly the same, leading to competition based on aspects other than price.
Monopolistic Market
An economic scenario where only one seller provides a distinctive product or service, facing substantial obstacles that prevent other competitors from entering the market.
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