Economics: Chp. 6 - The Good that Competition Does

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Across
  1. 4. Small crofters who cultivate small plots of land and live simply by fishing in coastal area of Scotland.
  2. 6. This sort of competition produces deceptions, quarrels, and wars.
  3. 7. Poor Greek farmer declared there are two different types of competition.
  4. 8. Abbreviation of a governmental agency whose purpose is to investigate trade practices.
  5. 10. The firm takes whatever price it can get.
  6. 11. Type of discrimination that is the practice of selling the same types of goods at different prices to different buyers.
  7. 14. In this type of competition, the market is one in which each firm promotes a differentiated product.
  8. 17. Compiled one of the first great dictionaries of the English language.
  9. 19. Laws or regulations that prohibit certain monopolistic practices.
  10. 20. Groups of firms that produce similar products or provide similar services.
  11. 21. This kind of competition has been put into human nature by God and is meant for the improvement of mankind.
  12. 22. These type of contracts force consumers to buy a certain product before they can buy the product he really wants.
  13. 23. Situation that arises when a single firm is the only supplier of a good for which no substitute exists.
  14. 25. The purest form of competition is called this type of competition.
Down
  1. 1. Biggest defender of the American freedom from harmful monopolies is the operation of this.
  2. 2. A type of monopoly which occurs when a single firm can fill the demand for a good more efficiently than multiple firms.
  3. 3. A type of monopoly granted in certain areas to encourage production.
  4. 5. This anti-trust law was enacted by the government in reaction to large monopolistic trusts of the late 1800s.
  5. 9. A collusion of businesses which join together to restrict or eliminate competition.
  6. 12. The healthy kind of this improves the quality of goods and lowers their prices.
  7. 13. Percent that four firms must sell to be considered a oligopolistic market.
  8. 15. Market that occurs when an industry is dominated by only a few firms.
  9. 16. This 1914 act outlawed several practices that were not specifically addressed in earlier laws.
  10. 18. These petroleum producing states greatly raised their oil prices in the early 1970s.
  11. 24. Market that turns out the highest quality of goods for the price people are willing to pay.