Business Chapter 4 Flashcards
1
Q
Cartel
A
A group of businesses that act together to reduce competition in the market by fixing prices, for example
2
Q
Monopoly
A
A market dominated by a single business
3
Q
Oligopoly
A
A market dominated by a few large businesses
4
Q
Peer-to-peer lending
A
Providing loans to individuals or businesses through online services that match lenders with borrowers
5
Q
PESTLE analysis
A
Analysis of external political, economic, social, technological , legal and environmental factors affecting a business
6
Q
Predatory pricing
A
Setting a low price to force rivals out of the business
7
Q
Rivalry
A
The competition that exists between businesses operating in the same market
