Tuesday, December 7, 2010

Eight Things That I Learned...

What I learned from the Quizes:

1. I learned that sellers also engage in nonprice competition
2. I learned that in competitive market places, the consumer benefits most.
3. I learned that price wars often lead to the result of a failed pricing policy
4. I learned that cartels are illegal in the United States
5. I learned that collusions are illegal in the United States and follows with heavy fines and even prison sentences.
6. I also learned that price war sellers try to undercut each other's prices to gain market share.
7. I learned that the United States never returned to laissez-faire and end antitrust investigations.
8. I learned that the antitrust legislation was designed to monitor and regulate the big businesses.

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