A Business That Takes Steps or Makes an Agreement That

question 35

Multiple Choice

A business that takes steps or makes an agreement that is designed to maintain or control the price of goods is engaging in:

• A)price fixing.
• B)price inflation.
• C)boycotting.
• D)price leadership.

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Definitions:

Efficiency

A measure of the ability of a person, machine, system, or process to achieve its goals with the minimum amount of waste, expense, or unnecessary effort.

Franchisee

An entity that has been granted the license by a franchisor to operate under the brand's name and offer its products or services.

Product-Distribution

The process of moving a product from its manufacturing source to its final consumers through various logistical and sales channels.

Trade Name

A commercial name used by a company or business that differs from its legal registered name, under which it conducts business.