Across
- 1. marketing strategy "in which one firm tries to distinguish its product or service from competing products on the basis of attributes
- 3. that you seek your own personal gain.
- 5. a rise in the price of any good
- 6. a central institution in the functioning of any economic system
- 8. the marketplace where final goods or services are sold to businesses and the public sector.
- 10. a science of wealth
- 12. two products which are substantially similar are judged by prospective consumers on their respective pricing
- 13. an unregulated system of economic exchange
Down
- 2. the economic power exercised by the preferences of consumers in a free market.
- 4. a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency.
- 7. a situation in a market in which firms or sellers independently strive for the patronage of buyers in order to achieve a particular business objective, e.g., profits, sales and/or market share.
- 9. a regular gathering of people for the purchase and sale of provisions, livestock, and other commodities.
- 11. a person or a group of people living in the same residence.
- 13. where factors of production are bought and sold