economics crossword

3. a formal organisation of producers that agree to coordinate prices and production
6. when two or more companies join to form one large firm
7. a contract that gives a single firm the right to sell its goods in a specific market
12. selling a product below cost for a short time to drive competitors out of the market
16. a series of price cuts that lower prices below the cost of production
17. a market structure in which many companies sell products that are similar but not identical

1. an illegal agreement among firms to divide a market,set prices, or limit production
2. the division of consumers into groups based on how much they will pay for a good or service
3. a product such as petroleum or milk that is considered the same no matter who produces and sells it
4. any factor that makes it difficult for a new firm to enter a market
5. laws that encourage competition in a marketplace
8. factors that cause a producers average cost per unit to fall as output rises
9. a way to attract customers through style,service,or location but not a lower price
10. a license that gives the inventor of a product the exclusive rights to sell it for a specific period of time
11. the removal of government controls over a market
13. a market that runs most effectively when one large firm supplies all output
14. a market structure in which a few large firms dominate a market
15. the expenses a new business must pay before it can produce and sell goods