Across
- 2. The expense a new business must pay before it can begin to produce and sell goods
- 3. selling a product below cost for a short period of time to drive competitors out of the market
- 7. a way to attract customers through style, service, or location, but not a lower price
- 10. a product such as petroleum or milk that is considered the store no matter who produces or sells it
- 11. laws that encourage competition in the market place
- 13. the division of consumers into groups based on how much they will pay for a good
- 15. an illegal agreement among firms to divide the market, set prices, or limit production
- 16. a contact that gives a single firm the right to sell its goods within an exclusive market
- 17. a market structure in which a few large fries dominate a market
- 18. a license that gives the inventor of a new product the exclusive right to sell it for a specific period of time
Down
- 1. any factor that makes it difficult for a new firm to enter a market
- 4. a formal organization of producers that agree to coordinate price and production
- 5. a series of competitive price, cuts that lower the market price below the cost of production
- 6. a market structure in which many companies sell products that are similar nut not identical
- 8. when two or more companies join to form a single firm
- 9. a market that runs most efficiently when one large firm supplies all of the output
- 12. factors that cause a producers average cost per unit to fall as output rises
- 14. the removal of government controls over a market