Across
- 4. where a firm is able to raise the price of a product and not lose all its sales to rivals (2)
- 7. the business practice of selling the same good at different prices to different customers (2)
- 8. when the perceived benefits of the combined operations of a merged organisation are greater than those which would arise if the firms stayed separate
- 9. the process of buying a good in one market at a low price and selling it in another market at a higher price in order to profit from the price difference
- 10. the type of price discrimination where the monopolist knows exactly the willingness to pay of each customer and can charge each customer a different price
- 11. the right of an individual or organization to own things they create in the same way as a physical object to prevent others from copying or reproducing the creation
Down
- 1. a firm that is the sole seller of a product without close substitutes
- 2. the type of competition that exists where firms are able to differentiate their product in some way and so can have some influence over price
- 3. a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than two or more firms could (2)
- 5. anything which prevents a firm from entering a market or industry (3)
- 6. the proportion of total sales in a market accounted for by a particular firm (2)
- 12. the right conferred on the owner to prevent anyone else making or using an invention or manufacturing process without permission