chapter 7 vocab

1234567891011121314151617
Across
  1. 4. a market that runs efficiently when a large firm supplies the output
  2. 6. a series of competitive price cuts that lowers
  3. 8. a market structure in which many companies sell products that are similar but not identical
  4. 9. division of customers into groups based on how much they will pay for a good
  5. 10. a producers average cost drops as production rises
  6. 14. secret agreement
  7. 15. a way to attract customers through style,service,or location,but not lower price
  8. 16. the removal of some government control over a market
  9. 17. a license that gives the inventor of a new product the exclusive right to sell it for a certain period of time
Down
  1. 1. laws that encourage competition in the market place
  2. 2. the expenses a firm must pay before it can produce and sell goods
  3. 3. any factor that makes it difficult for a new firm to enter a market
  4. 5. pricing of goods or services
  5. 7. the right to sell a good or service within an exclusive market
  6. 11. a formal organization of products that agree to coordinate prices and production
  7. 12. a market structure in which a few large firms dominated market
  8. 13. combination of two or more companies that discourages competition
  9. 14. product that stays the same no matter who produces it