Market Structure ITB

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Across
  1. 6. A negative effect of monopolies, such as price manipulation due to lack of competition
  2. 8. A positive effect of monopolies, like consistent pricing or innovation under government regulation
  3. 9. The potential for innovation as companies build on one another’s successful ideas
  4. 13. The variety of new inventions and creative products resulting from strong competition
  5. 15. A market structure with many sellers offering identical products at the same price
Down
  1. 1. Waste of resources due to heavy competition and excessive marketing efforts
  2. 2. A market structure with many businesses selling similar but not identical products at different prices
  3. 3. Means "one," describing that a monopoly has only a single supplier in the market
  4. 4. The process businesses use in monopolistic competition to make their products stand out through features or marketing
  5. 5. A product identical to another, allowing buyers to switch with no difference in value (e.g., potatoes, carrots)
  6. 7. An illegal practice where businesses in an oligopoly secretly work together to fix prices or limit competition
  7. 10. How a business is organized based on the number of businesses competing for sales in an industry
  8. 11. The risk of companies working together to overcharge consumers without consequences
  9. 12. A market structure with one business that has complete control over an entire market’s supply of goods or services
  10. 14. A market structure with a small number of businesses selling the same or similar products