Chapter 7-8 Review

Edit Answers
1234567891011121314151617181920212223242526
Across
  1. 3. The least competitive market structure with only one seller
  2. 4. The joining of two or more companies that produce the same or similar products
  3. 5. A situation that occurs when the average cost of production falls as the production grows larger
  4. 8. The most common market structure that's the closest thing to perfect competition
  5. 12. Where one partner doesn't take part in running the business and their liability is limited to their investment
  6. 13. A company owned and run by two or more people
  7. 16. When the government owns and runs a business or authorizes only one producer
  8. 18. A business that is owned and operated by one individual
  9. 20. Laws to define monopolies that gives the government the power to control them or break them up
  10. 22. The most competitive market structure that has standardized products
  11. 23. A legal registration that gives an inventor the exclusive property rights to that invention for a certain time
  12. 24. The combining of companies involved in different steps of producing or marketing a product
  13. 25. This type of business makes up 20% of the companies in the U.S., but produces most of the goods and services in the U.S.
  14. 26. A large corporation which branches into several countries
Down
  1. 1. Where sellers work to show that their products are different than everyone else's
  2. 2. Acts like a business, but for a societal benefit
  3. 6. Both partners share profits and losses equally
  4. 7. When a business takes a percentage of their profits every so often and uses it to expand the company
  5. 9. Where a small number of sellers dominate a market
  6. 10. Where all partners are only responsible for their own actions
  7. 11. A business made up of semi-independent businesses that all offer the same product
  8. 14. When there are no other producers in a certain region
  9. 15. A business that's operated for the shared benefit of its owners
  10. 17. When a firm controls a manufacturing method, invention, or type of technology
  11. 19. When the costs of production are lowest with only one producer
  12. 21. A business composed of several companies, each of which produce unrelated goods and services