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Why was the introduction of substantive individual rights by the WorkChoices amendments to the Workplace Relations Act 1996 (Cth) so significant?
Four-firm Concentration Ratio
A metric that indicates the total market share owned by the four largest firms in an industry, used to assess the degree of market concentration and competition.
Market Shares
The share of a market that a specific company holds, typically represented by the percentage of total market sales it accounts for.
Herfindahl Index
The Herfindahl Index is a measure of market concentration used to determine the intensity of competition within an industry, calculated by summing the squares of the market shares of all firms within the market.
Import Competition
The pressure on domestic companies from foreign producers offering goods or services in the same market.
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