__________ Is Specific Behavior That Is Repeated Over and Over

question 22

Multiple Choice

__________ is specific behavior that is repeated over and over again when confronted with a specific situation.

• A) Custom
• B) Habit
• C) Character
• D) Compulsion

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Definitions:

Mutual Interdependence

A situation in which entities rely on each other to a significant extent, particularly relevant in markets with a few dominant firms.

Antitrust Laws

Legislation enacted to prevent anti-competitive practices, monopolies, and to promote fair competition for the benefit of consumers.

Market Share

The portion of total sales in a market captured by a specific company, product, or brand, usually expressed as a percentage.

Monopolistic Competition

A market structure characterized by many sellers offering differentiated products, leading to competition that is neither purely competitive nor purely monopolistic.