Jake Wentz- Market Structures

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Across
  1. 3. government owned or authorized only one producer
  2. 5. formal organization of sellers or producers that agree to act together
  3. 6. costs of production are lowest when only one firm provides output
  4. 9. attempt to distinguish a product from a similar products
  5. 10. a business that does not have to consider competition when settings its prices
  6. 11. economic model examines competition among businesses in same industry
  7. 12. a mderated discussion with small groups of consumers
  8. 13. situation in which the average cost ofproduction falls as the producer grows
  9. 15. using factor other than low price
  10. 16. many sellers offer similar, but not standardized product
  11. 18. product consumers consider identical
  12. 19. expenses to enter a market
Down
  1. 1. wholesale markets for farm products such as corn and beef
  2. 2. controls a manufacturing method, an invention, or a type of technology
  3. 4. hinders a business from entering a market
  4. 7. business that cannot set the prices for its product
  5. 8. no other producers or sellers within a certain region
  6. 9. legal registration of an invention or a process that gives the inventor the exclusive property right to it
  7. 10. ideal model of a market economy
  8. 14. market structure with only one seller
  9. 17. percent of total sales in a market