2.05bc vocabulary
Across
- 4. An economic system in which individuals and groups, rather than
- 6. determine prices
- 9. The type of market, or environment, in which businesses operate
- 10. A market structure in which there are many businesses selling a lot of dentical products for about the same price to many buyers; also known as pure competition
- 11. prices for similar amounts and types of products
- 14. Rivalry between or among businesses that offer similar types of goods or services
- 16. Illegal business agreement in which businesses agree on prices of their goods or
- 19. A risk-response strategy that involves choosing not to do something that is considered risky
- 21. Act A federal regulation intended to protect competitors from takeovers that would limit competition
- 22. the risk of harm caused by human mistakes, dishonesty, or another risk that is attributed to people
- 23. Rivalry between or among businesses that offer dissimilar goods or services
- 25. A type of market structure in which a market is controlled by one supplier, and there
- 26. The rivalry between two or more businesses to attract scarce customer dollars
Down
- 1. A type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars
- 2. no substitute goods or services readily available
- 3. A type of rivalry between or among businesses that involves factors other than price (e.g., customer services, modern facilities, trained personnel, and variety of products)
- 5. A federal regulation intended to prevent specific business actions that might restrict competition (e.g., tying agreements and exclusive agreements)
- 7. resulting in little choice for the customer
- 8. An illegal activity in which a business charges different customers
- 12. Using minimum amounts of resources to the best advantage
- 13. A type of market structure in which a lot of businesses sell similar products that have only a few differences
- 15. An illegal agreement that forbids customers from buying goods and services from competitors
- 17. profit system, market system, capitalistic system, or free enterprise system
- 18. A federal regulation that established a regulatory agency the Federal Trade Commission (FTC), to monitor business activities in order to prevent unfair competition
- 20. government, own or control the means of production; also known as free market economy,
- 24. A market structure in which there are relatively few sellers, and industry leaders