Across
- 3. is where firms use strategies to increase sales and market shares that do not involve price reduction
- 4. a market structure in which many companies sell products that are similar but not identical
- 5. the combination of two or more firms, in which the resulting firm maintains the identity of one of the firms, usually the larger
- 9. a market structure in which a few large firms dominate a market
- 10. a market that runs most efficiently when one large firm supplies all of the output
- 14. the division of consumers into groups based on how much they will pay for a good
- 15. a product that is considered the same no matter who produces or sells it
- 18. laws that encourage competition in the marketplace
Down
- 1. the pricing of goods or services at such a low level that other suppliers cannot compete and are forced to leave the market
- 2. the removal of some government controls over a market
- 6. large organisations can often produce items at a lower unit cost than their smaller rivals
- 7. an illegal agreement among firms to divide the market, set prices, or limit production
- 8. a formal organization of producers that agree to coordinate prices and production
- 11. any factor that makes it difficult for a new firm to enter the market
- 12. a series of competitive price cuts that lowers the market price below the cost of production
- 13. gives an inventor the exclusive property rights to that invention or process for a certain number of years
- 16. the expenses a new business must pay before it can begin to produce and sell goods
- 17. a contract that gives a single firm the right to see its goods within an exclusive market