Competition and Market Structures

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Across
  1. 5. A monopoly that occurs because a firm owns the technology or patents required to produce a product.
  2. 7. The way in which a market is organized based on the number and size of firms.
  3. 8. When firms in an industry cooperate to fix prices or divide the market to avoid competition.
  4. 11. A policy of minimal government intervention in economic affairs.
  5. 12. A market structure where firms have some control over price but still face competition.
  6. 13. The process of making a product distinct from other similar products in the market.
  7. 15. A market structure dominated by a few large firms that have significant control over the market.
  8. 16. A monopoly created and regulated by the government to provide a product or service.
Down
  1. 1. The illegal practice of setting prices at a certain level to avoid competition.
  2. 2. The cost advantages that a firm obtains due to the size, output, or scale of its operation.
  3. 3. A market structure where a single firm controls the entire supply of a product or service.
  4. 4. A market structure where many firms sell similar but not identical products.
  5. 6. A market where a single firm can supply the entire market at a lower cost than multiple firms could.
  6. 9. Competition based on factors other than price, such as product quality or advertising.
  7. 10. A monopoly that exists because a firm is the only provider of a product or service in a specific geographic area.
  8. 14. A market structure where many firms sell identical products with no barriers to entry.