(Econ Unit 2) How Markets Work: Market Structures

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Across
  1. 1. a market structure in which many companies sell products that are similar but not identical
  2. 5. the expenses a new business must pay before it can begin to produce and sell goods
  3. 7. a way to attract customers through style, service, or location, but not a lower price
  4. 10. a monopoly created by the government
  5. 11. A market structure in which a large number of firms all produce identical products and no single seller controls supply or prices
  6. 14. division of customers into groups based on how much they will pay for a good
Down
  1. 2. a market that runs most efficiently when one large firm supplies all of the output
  2. 3. a market structure that does not meet the conditions of perfect competition
  3. 4. when two or more companies join to form a single firm
  4. 6. any factor that makes it difficult for a new firm to enter a market
  5. 8. A market structure in which a few large firms dominate a market
  6. 9. characteristics that cause a producer's average costs per unit to drop as production rises
  7. 12. a market in which a single seller dominates
  8. 13. an illegal grouping of companies that discourages competition, similar to a cartel