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10 cards from this deck
Factors making it difficult for businesses to enter a market
Reduces competition, shifts focus to non-price elements
Businesses agreeing on pricing & output for higher profits
Standardised goods identical regardless of producer
Primarily on price
Buyers & sellers access all info needed for rational decisions
Where only one firm operates in a market
Limited control, prices face downward pressure
Largest markets where businesses can compete worldwide
Significantly aids survival in competitive markets
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