Although Businesses Are Sometimes Criticized for Abusing Power, They May

question 11

True/False

Although businesses are sometimes criticized for abusing power, they may use power positively.

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Definitions:

Bid Rigging

An illegal agreement between parties to conspire to fix the outcomes of bidding processes to benefit all involved parties unfairly.

Predatory Pricing

The practice of selling a product or service at a very low price with the intent of driving competitors out of the market or creating barriers to entry for potential new competitors.

Meeting-The-Competition Defense

A legal defense allowing a business to justify certain behaviors, such as price fixing, by proving they were necessary to meet a competitor's prices.

Per Se Defense

A legal argument that, if proven, is sufficient by itself to defend the position of the defendant without the need for further evidence.