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James is a vice president of a local banking organization.He and his wife have been in danger of foreclosure on their home after his wife lost her job last year.James recently found out that he can transfer a small percentage of his client's earnings into his own account without drawing the attention of those in power at his organization.He has been able to transfer enough money to break even on their mortgage.He is aware that he is breaking the law but he does not see his crime as being on the same scale as a violent crime.He is also aware that if he is caught,the criminal justice system will go easy on him because he is a first-time client. After James is caught,the bank where he worked fails as a result and the bank president commits suicide.An outraged public demands justice and James is then charged with manslaughter.This is an example of the ________ model.
Pure Competition
A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price-taking behavior.
Nonprice Competition
Competition based on distinguishing one’s product by means of product differentiation and then advertising the distinguished product to consumers.
Real Characteristics
The tangible and genuine attributes or qualities that define an entity, object, or condition without distortion by perceptions or other external factors.
Product Promotion
The act of marketing or advertising a product to increase awareness or sales.
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