2.05bc camden wilson vocab

2. illegal agreement reqiring a costumor to by products
3. An illegal agreement that forbids customers from buying goods and services from competitors
6. between or among businesses that offer dissimilar goods or
7. risk that presents the chance of loss but no opportunity for gain
8. The rivalry between two or more businesses to attract scarce customer dollars
11. Illegal business agreement in which businesses agree on prices of their goods or services,resulting in little choice for the customer
13. Using minimum amounts of resources to the best advantage
15. A return of part of the price a customer pays for a good or service; usually offered by the product’s manufacturer
16. A risk-response strategy that involves trying to reduce the chance of loss or severity
19. competition that does not involve price
20. The type of market, or environment, in which businesses operate
21. the risk of harm caused by human mistakes, dishonesty, or another risk that is attributed to people

1. Rivalry between or among businesses that offer similar types of goods or
4. A risk-response strategy that involves choosing not to do something that is
5. moving risk to someone else
7. individuals control the economy
9. competition that involves price
10. A federal regulation intended to prevent specific business actions that might restrict competition (e.g., tying agreements and exclusive agreements)
12. A market structure in which there are many businesses selling a lot of identical products for about the same price to many buyers; also known as pure competition
14. A market structure in which there are relatively few sellers, and industry leaders usually determine prices
17. A type of market structure in which a market is controlled by one supplier, and there are no substitute goods or services readily available
18. a situation in which either profit or loss is possible