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Domestic And Foreign Cars
Classifications of cars based on their country of origin; domestic cars are produced within one's own country, whereas foreign cars are imported.
Oligopoly
A market structure characterized by a small number of firms controlling the majority of market share, leading to limited competition.
Price Competition
A market strategy where businesses attempt to attract customers by undercutting competitors' prices.
Pure Competition
A market structure characterized by a large number of small firms, all producing homogeneous products, with no single company able to influence the market price.
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