The GFC Started In

question 52

Multiple Choice

The GFC started in:

• A) 2007.
• B) 2006.
• C) 2009.
• D) 2008.

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Definitions:

Tacit Collusion

An unofficial agreement among competitors to limit competition and keep prices high, without explicit communication or legal contracts.

Price Leadership

A strategy where the leading firm in a market sets the price of goods or services, and other firms in the market follow suit.

Theme Park Industry

The theme park industry comprises companies and entities that operate amusement and theme parks, offering rides, games, shows, and other entertainment activities.

Price Leadership

A situation where the dominant firm in a market sets the price of a good or service, which is then followed by other firms.