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In the Macroenvironment There Are Several Structures of Industries

question 146

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In the macroenvironment there are several structures of industries.In a(n) structure,there are a relatively small number of sellers,each holding substantial market share,in a market with many buyers.


Definitions:

State Legislature

A governmental body in each state responsible for creating and passing state laws.

Licensing

A government’s official act of granting permission to an individual, such as an attorney, to do something that would be illegal in the absence of such permission.

Wrongful Act

An action that is legally incorrect or unjust, often forming the basis of a civil lawsuit or criminal prosecution.

Damages

Money awarded as a remedy for a civil wrong, such as a breach of contract or a tortious act.

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