Ch. 6 & 7 Crossword Puzzle

123456789101112131415161718192021222324
Across
  1. 1. combination of two or more companies into a single firm
  2. 4. market dominated by a single seller
  3. 5. the quantity demanded is greater than the quantity supplied
  4. 9. large number of firms all produce the same product
  5. 10. like a cartel, an illegal grouping of companies that discourages competition
  6. 11. when quantity supplied is not equal to quantity demanded in a market
  7. 12. when quantity demanded is more than quantity supplied
  8. 17. formal orginization of producers that agree to coordinate prices and production
  9. 18. allocating scare goods and services using criteria other than price
  10. 20. a product that is the same no matter who produces it (milk)
  11. 21. laws that encourage competition in the marketplace
  12. 22. agreement among firms to divide the market, set prices, or limit production
  13. 23. selling a products below cost to drive competitors out of the market
  14. 24. many companies sell similar but not identical produces
Down
  1. 2. the point at which quantity demanded and quantity supplied are equal
  2. 3. the right to sell a good or sevice within an exclusive market
  3. 6. when quantity supplied is more than quantity demanded
  4. 7. doesnt meet the conditions of perfect competition
  5. 8. license gives the inventor of a new product the exclusive right to sell it for a certain period of time
  6. 11. removal of some government controls over a market
  7. 13. making a product different from other similar products
  8. 14. market runs more effectively when one large firm supplies all the output
  9. 15. government-issued right to operate a business
  10. 16. few large firms dominate a market
  11. 19. situation in which quantity supplied is greater than quantity demanded; excess supply