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Questions and Answers
What is the purpose of agreement in restraint of trade?
What is the purpose of agreement in restraint of trade?
- To encourage international trade agreements
- To regulate labor practices within a specific industry
- To restrict competition and maintain market power (correct)
- To promote fair competition and consumer choice
What is a potential consequence of an agreement in restraint of trade?
What is a potential consequence of an agreement in restraint of trade?
- Enhanced product innovation and development
- Reduced consumer options and higher prices (correct)
- Increased market competition and lower prices
- Expanded market access for new businesses
Who is affected by agreements in restraint of trade?
Who is affected by agreements in restraint of trade?
- Consumers, by limiting their choices and potentially raising prices (correct)
- Competing businesses, by encouraging healthy competition
- Government agencies, by promoting fair trade practices
- Labor unions, by regulating their negotiation power
