Across
- 4. interaction in which the total is greater than the sum of parts
- 5. an oligopoly in which the top four firms account for at lest 75 percent of the market sales
- 8. arrangements people have developed for trading with one another
- 11. the condition of a market in which there are many sellers of slightly differentiated goods, sellers and buyers are reasonably aware of conditions that may affect the market, each seller has some control over his good's price, and sellers find it relatively easy to enter and exit the market
- 13. a business combination in which a group of companies in the same industry eliminate their competition by putting their stock into a single account and allowing a manager to look after the affairs of the group and distribute the profits; an arrangement that gives a person control of property and a charge to manage it for the good of an intended beneficiary
- 14. a form of market organization in which there is only one supplier in the industry selling an undifferentiated product
- 15. a family of common concerns, a group of businesses that sells a similar product, sells to a certain group of customers, or produces its products in a similar way
- 18. the prevention of a new firm from entering an industry because of government regulations
- 20. a market in which only a handful of firms are selling either highly differentiated or undifferentiated products, sellers and buyers are not fully aware of all market information, each seller has a great deal of control over the price, and sellers find it relatively difficult to enter and exit the industry
- 21. the situation in which new firms are prevented from entering an industry because other firms already own all vital natural resources necessary for the business
- 22. an oligopoly in which the top four firms account for 50-75 percent of the industry's total sales
- 23. agreement among a small number of producers to reduce their output and increase prices
- 24. an oligopoly composed of two business firms
Down
- 1. the condition of a market when there is a very large number of sellers who are selling an identical product, each seller and buyer is perfectly aware of all information about the market, no seller can affect the price, and sellers find it relatively easy to enter and exit the market
- 2. products that are different from one firm to another
- 3. interlocking directorate a situation that reduces competition in an industry by placing one or more directors on the boards of competing firms
- 6. a group of producers who cooperate to control the price of their goods
- 7. the selling of the same goods or services by a business firm to different buyers at different prices
- 9. a situation in which business firms buy out other firms in their industry to eliminate or reduce competition
- 10. products that are exactly alike from firm to firm
- 12. a monopoly in which the government allows one firm an exclusive right to provide a good or service
- 16. contracts forced upon smaller companies by a supplier to give exclusive rights to the supplier and thus reduce competition
- 17. a monopoly that exists because one firm owns or controls 100 percent of some resource vital to the industry
- 19. a condition that prevents a new firm from entering an industry and competing on an equal basis with established firms