Connor Gaston - Market Structure

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Across
  1. 2. one that consumers see as identical regardless of produce
  2. 6. the effort to distinguish a product from similar products
  3. 7. when the government either owns and runs the business or authorizes only one producer
  4. 11. occurs when businesses set prices below cost for a time to drive competitors out of a market
  5. 13. firm that does not have to consider competitors when setting the prices of its products
  6. 16. the joining of two firms to form a single firm
  7. 17. a business that accepts the market price determined by supply and demand
  8. 19. a group that acts together to set prices and limit output
  9. 20. occurs when a firm controls a manufacturing method, invention, or type of technology
  10. 22. occurs when producers use factors other than low price to try to convince customers to buy their products
  11. 27. makes it hard for a new business to enter a market
  12. 28. occurs when businesses agree to set prices for competing products
Down
  1. 1. occur when the average cost of production falls as the producer grows larger
  2. 3. markets that have few sellers or products that are not standardized
  3. 4. when there is only one seller of a product that has no close substitutes
  4. 5. an inventor the exclusive property rights to that invention or process for a certain number of years
  5. 8. a market structure in which only a few sellers offer a similar product
  6. 9. reduces or removes government control of business
  7. 10. defines monopolies and gives the government the power to control them
  8. 12. a company’s percent of total salesinamarket the expenses that a new business faces when it enters
  9. 14. the ideal model of a market economy
  10. 15. occurs when the costs of production are lowest with only one producer
  11. 18. occurs when many sellers offer similar, but not standardized, products
  12. 21. when there are no other producers within a certain region
  13. 23. occurs when competing businesses divide a market among themselves
  14. 24. a moderated discussion with small groups of consumers
  15. 25. a set of rules or laws designed to control business behavior
  16. 26. a group of firms combined in order to reduce competition in an industry