Examlex
What is the definition of the following term:
-dama:
Tacit Collusion
A form of collusion in which firms in a market coordinate their pricing or output strategies without explicit communication or agreement.
Competition
The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix.
Illegal
Activities or actions that are prohibited by law and subject to legal penalties, including fines and imprisonment.
Legal
Pertaining to laws or the system of rules that a particular country or community recognizes as regulating the actions of its members.
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