economics crossword

5. a formal organisation of producers that agree to coordinate prices and production
7. a market that runs most efficiently when one large firm supplies all output
8. the division of consumers into groups based on how much they will pay for a good
9. an illegal agreement among firms to divide the market ,set prices ,or limit production
12. a market structure in which many companies sell products that are similar but not identical
13. when two or more companies join to form a single firm
14. any factor that makes it difficult for a new firm to enter a market
15. a market structure in which a few large firms dominate a market
16. selling a product below cost for a short period of time to drive competitors out of the market
17. factors that cause a producers average cost per unit to fall as output rises

1. a licence that gives the inventor of a new product the exclusive rights to sell it for a specific amount of time
2. the removal of government controls over a market
3. a way to attract customers through style ,service ,or location but not a lower price
4. the expenses a new business must pay before it can produce and sell a good
6. a contract that gives a single firm the right to sell its goods in a specific market
8. a series of competitive price cuts that lowers the market price below the cost of production
10. laws that encourage competition in a market place
11. a product such as petroleum or milk that is considered the same no matter who produces or sells it