MTDM DECA Exam 2023 with 100% correct answers

Agency relationship The agent has authority to act on behalf of the principal. Ex. Josh is a small business owner who hires a lawyer to represent him in court. Josh is the principal, the lawyer is the agent. Representative A person elected to represent the people Which business is most likely to vioate antitrust laws if it insists on an exclusive dealing agreement? A firm with dominant market power. Dominant firms may be held to a higher standard under antitrust laws b/c of their monopolistic potential. Small-start ups are less likely to violate competitive laws, as are buyers who are being locked into the agreement. Exclusive dealing only pertains to vertical business partners. Vertical business partners a partnership between a firm and its suppliers or distributors. Horizontal business partners formed between partners operating in the same business area. The firm partners with a competitive company to improve its position against other competitors. Tends to be anti-competitive, hence anti-trust law should be considered in this type of alliance. cross linking a strategy that can come in handy to get high search engine rankings, by leveraging multiple domains owned by you a method of adding links on your website to other websites with similar content or interests affiliate marketing a marketing arrangement by which an organization refers consumers to the selling company's website affinity marketing A method of selling goods and services by creating partnerships with similar or compatible companies and brands. This increases brand loyalty for both companies and products and heightens market awareness of both.