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