Ch 2 lesson 7 Vocab

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Across
  1. 3. Market structure in which a single producer supplies a unique product that has no close substitutes
  2. 6. Market structure in which many producers supply an identical product and no single producer can influence its price
  3. 7. Goods and services that are used collectively and that no one can be excluded from using
  4. 8. Market structure in which a few firms dominate the market and produce similar or identical goods
Down
  1. 1. A cost or benefit that arises from production or consumption of a good or service that falls on someone other than the producer or consumer
  2. 2. A situation in which the market fails to allocate resources efficiently
  3. 4. Market structure in which many producers supply similar but varied products
  4. 5. Organization of a market, based mainly on the degree of competition