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The Embargo Act was devastating to the British and French.
Market Structure
The interconnected characteristics of a market, including the number and relative strength of buyers and sellers and degree of collusion among them, level and forms of competition, extent of product differentiation, and ease of entry into and exit from the market.
Profit Rewards
The financial gains that accrue to entrepreneurs or investors as a result of taking a risk in the marketplace.
Pure Competition
A market structure characterized by a large number of small firms, a homogeneous product, and no single firm having market control.
Market Structure
The organizational and other characteristics of a market, influencing the level of competition and pricing within the market.
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