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Foreign Competition
Foreign Competition involves businesses from different countries competing for market share, often leading to innovation and improved quality of goods and services.
Declining Importance
A situation or trend where a particular factor, issue, or economic sector becomes less significant or influential over time.
Sherman Antitrust Act
A landmark federal statute in the United States passed in 1890 that outlaws monopolistic business practices, aiming to preserve fair competition in the marketplace.
FTC
The Federal Trade Commission, a U.S. government agency aimed at protecting consumers and ensuring a strong competitive market by enforcing antitrust and consumer protection laws.
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