2.05bc vocabulary

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Across
  1. 4. An economic system in which individuals and groups, rather than
  2. 6. determine prices
  3. 9. The type of market, or environment, in which businesses operate
  4. 10. A market structure in which there are many businesses selling a lot of dentical products for about the same price to many buyers; also known as pure competition
  5. 11. prices for similar amounts and types of products
  6. 14. Rivalry between or among businesses that offer similar types of goods or services
  7. 16. Illegal business agreement in which businesses agree on prices of their goods or
  8. 19. A risk-response strategy that involves choosing not to do something that is considered risky
  9. 21. Act A federal regulation intended to protect competitors from takeovers that would limit competition
  10. 22. the risk of harm caused by human mistakes, dishonesty, or another risk that is attributed to people
  11. 23. Rivalry between or among businesses that offer dissimilar goods or services
  12. 25. A type of market structure in which a market is controlled by one supplier, and there
  13. 26. The rivalry between two or more businesses to attract scarce customer dollars
Down
  1. 1. A type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars
  2. 2. no substitute goods or services readily available
  3. 3. A type of rivalry between or among businesses that involves factors other than price (e.g., customer services, modern facilities, trained personnel, and variety of products)
  4. 5. A federal regulation intended to prevent specific business actions that might restrict competition (e.g., tying agreements and exclusive agreements)
  5. 7. resulting in little choice for the customer
  6. 8. An illegal activity in which a business charges different customers
  7. 12. Using minimum amounts of resources to the best advantage
  8. 13. A type of market structure in which a lot of businesses sell similar products that have only a few differences
  9. 15. An illegal agreement that forbids customers from buying goods and services from competitors
  10. 17. profit system, market system, capitalistic system, or free enterprise system
  11. 18. A federal regulation that established a regulatory agency the Federal Trade Commission (FTC), to monitor business activities in order to prevent unfair competition
  12. 20. government, own or control the means of production; also known as free market economy,
  13. 24. A market structure in which there are relatively few sellers, and industry leaders