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Question

Think of an example of each of these vocabulary terms in everyday life. Content Vocabulary: private enterprise, patent, trademark, copyright, competition, price competition, nonprice competition, monopoly, business risk, profit, supply, demand, domestic business, global business, for-profit business, nonprofit organization, public sector, private sector, industry, derived demand, wholesalers, retailers, production, management, finance, accounting. Academic Vocabulary: purchase, interact, trend, generate.

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In this task, we are going to give some examples that can help the student in understanding the listed terms.

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