Market Structures and Business Organizations

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