Examlex
An example of the indirect conflict management approach of using scripts is a monthly meeting of department heads which is held presumably for purposes of coordination and problem solving but actually becomes a polite forum for superficial agreement.
Perfect Competition
A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information, leading to firms being price takers.
Market Power
The ability of a firm or group of firms to influence or control the terms and conditions of the market to some degree, often through controlling supply or manipulating demand.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and price setting.
Monopolistic Competition
An industry structure where several entities sell products that are similar in nature but not completely the same, thus giving them a slight edge in market power.
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