Examlex
The consolidation of firms that compete in the same industry or product line is a(n) :
Market System
An economic system in which market forces of supply and demand guide the production of goods and services and their distribution.
Property Rights
The theoretical and legal ownership rights assigned to the use, control, and transfer of property, which can be applied to both physical and intellectual properties.
Central Planning
An economic system where decisions regarding production and investment are embodied in a comprehensive plan formulated by a central authority, typically the government.
Laissez-faire
Laissez-faire is an economic philosophy advocating minimal government intervention in the business affairs of private individuals and enterprises.
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