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Explain how materials handling hazards differ in nature from other hazards in a typical industrial plant
Tit-For-Tat Strategy
A cooperative, reciprocative strategy in game theory where an entity responds to an opponent's action with similar action.
Pricing Strategy
The approach a company uses to determine the best price for its products or services to maximize profits and meet customer expectations.
Tacit Collusion
Coordination between competing firms that occurs without direct communication, often through price signaling or market strategies, avoiding explicit agreements.
Cartel
An association of independent businesses or countries that agree to coordinate production, pricing, and marketing of a product to monopolize a market or maximize profits.
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