Examlex
COGNITIVE ASSESSMENT If someone displays a Web page in a browser and the page indicates Flash is needed, what is Flash?
Restricts Output
A strategy or condition that limits the amount of goods and services produced, often to maintain prices or due to limited resources.
Competitive Industry
An industry where numerous sellers offer products or services that are similar, ensuring no single entity has significant market power to determine prices.
Covert Collusion
An implicit secret agreement between parties to fix prices, divide markets, or rig bids without explicit verbal agreement, making it hard to detect and prosecute.
Cartel
An association of independent businesses organized to control prices and production, restrict competition, and monopolize markets.
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