2.05B/C vocab

5. to people
6. A risk-response strategy that involves choosing not to do something that is considered risky
9. A federal regulation intended to protect competitors from
11. Illegal business agreement in which businesses agree on prices of their goods or
12. that have only a few differences
13. Rivalry between or among businesses that offer similar types of goods or services
14. the risk of harm caused by human mistakes, dishonesty, or another risk that is
16. The type of market, or environment, in which businesses operate
17. A type of rivalry between or among businesses that involves factors
19. The rivalry between two or more businesses to attract scarce customer dollars
20. A type of market structure in which a lot of businesses sell similar

1. from competitors
2. Rivalry between or among businesses that offer dissimilar goods or services
3. than price
4. Act a federal regulation intended to prevent specific business actions that might
7. An illegal agreement that forbids customers from buying goods and
8. resulting in little choice for the customer
10. competition (e.g., tying agreements and exclusive agreements)
15. no substitute goods or services readily available
16. A type of market structure in which a market is controlled by one supplier, and there
18. Using minimum amounts of resources to the best advantage