AP Micro Vocab Puzzle (Home)

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Across
  1. 5. Unspoken understanding that firms will act together
  2. 8. an imperfect market structure where many, various sized firms compete for market demand shares.
  3. 12. outcome of a strategic decision
  4. 13. an imperfect market structure where the industry is dominated by a few, large firms.
  5. 14. used by governments to break up monopolies
  6. 15. an firm that has the power to influence the price it charges as the good it produces does not have perfect substitutes.
  7. 16. how strategic choice is assesed
  8. 18. An economic market in which supply and demand are not regulated or are regulated with only minor restrictions.
  9. 19. a imperfect market structure in which an individual firm has sufficient control of an industry or market.
  10. 21. price restrictions set in place in a market and enforced by the government
  11. 22. combination of strategies that yields the highest joint profit
  12. 23. the system where the forces of demand and supply determine the prices of commodities and the changes therein
  13. 24. todo3
Down
  1. 1. the individual benefits derived from the consumption of goods and services.
  2. 2. todo4
  3. 3. todo1
  4. 4. when other businesses usually accept price changes established by a dominant firm and which other firms then follow.
  5. 5. an entity is operating at maximum capacity in perfect competition.
  6. 6. A choice based on the recognition that the actions of others will affect the outcome of the choice and that takes these possible actions into account
  7. 7. todo2
  8. 8. Maintain and raise price above the price that would exist under competition
  9. 9. a property of an perfectly efficient market whereby all goods and services are optimally distributed among buyers in an economy.
  10. 10. when an individual firm comes to dominate an industry by producing goods and services at the lowest possible production cost.
  11. 11. any economic market that does not meet the rigorous assumptions of a hypothetical perfectly competitive market.
  12. 17. A choice that maximizes satisfaction regardless of others actions.
  13. 20. selling strategy that charges customers different prices for the same product or service based on what the seller thinks they can get the customer to agree to.