Market Structures and Business Organizations

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Across
  1. 4. business organization owned and operated by group of individuals
  2. 7. combination of two or more companies into single firm
  3. 9. few large firms dominate market
  4. 10. establishment formed to carry on commercial enterprise
  5. 12. division of customers into groups based on ow much they will pay for good
  6. 13. single seller
  7. 16. many companies sell products that are similar but not identical
  8. 18. difficult for new firm to enter market
  9. 20. formal organization of producers that agree to coordinate prices and production
  10. 22. agreement among firms to divide market, set prices, or limit production
  11. 23. business owned and managed by one person
Down
  1. 1. ability of company to change prices and output like a monopolist
  2. 2. agreement among firms to charge one price for same good
  3. 3. large number of firms producing the same product
  4. 5. producer's average cost per unit fall as output rises
  5. 6. partners share equally responsibility and liability
  6. 8. large corporation that produces and sells its goods and services throughout the world
  7. 11. legally bound obligation to pay debts
  8. 14. functions like a business but does not operate for purpose of generating profits
  9. 15. only one partner is required to be general partner
  10. 17. expenses a firm must pay before it can open
  11. 19. right to sell good or service within exclusive market
  12. 21. legal entity owned by individual stockholders