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What type of agreement must always be in writing in order to be a legally binding contract
Dominant Firms
Companies that have a major proportion of market share and can influence market conditions and prices.
New Products
Goods or services that have been recently developed, introduced to the market, or significantly improved to meet consumer needs or open new markets.
Competing Products
Goods or services offered in the market that serve similar needs or desires of consumers, often leading to a choice preference based on price, quality, or other attributes.
Technological Advance
The progress or improvement in technology, leading to more efficient processes, products, or services.
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