Across
- 4. Factors that cause a producer's average cost per unit to fall as output rises.
- 6. A business owned and managed by a single individual.
- 7. An incentive that encourages entrepreneurs to take business risks in the hopes of making a profit.
- 12. The possibility of adverse outcomes or losses associated with starting, operating, or expanding a business.
- 13. Competition that focuses on factors other than the price of the product.
- 14. A business organization owned by two or more persons who agree on a specific division of responsibilities and profits.
- 16. A market in which a single seller dominates.
- 18. A market in which a large number of firms all produce the same product and no single seller controls supply or prices.
- 20. Laws that encourage competition in the marketplace.
- 21. Competition when marketers compete solely on the basis of price.
Down
- 1. An agreement that unites two or more existing companies into one new company.
- 2. Type of merger that involves the combination of two or more firms competing in the same market with the same good or service.
- 3. A market in which many companies sell products that are similar, but not identical.
- 5. A business combination that involves merging more than two businesses that produce unrelated products or services.
- 8. A market in which a few large firms dominate a market.
- 9. The ability of a company to control prices and total market output.
- 10. A legal entity, or being, owned by individual stockholders, each of whom has limited liability for the firm's debts.
- 11. Type of merger that involves two or more firms involved in different stages of producing the same good or service.
- 15. A market that runs most efficiently when one large firm supplies all of the output.
- 17. The practice of allocating funds back into a business or investment project to enhance its productive capacity, improve efficiency, or maintain competitiveness.
- 19. The difference between the cost of producing something and the amount earned.