Across
- 3. a person who owns the business and is personally responsible for its debts
- 6. an agreement to charge one price for the same goods
- 9. type of monopoly that exists as a result of the high fixed costs or startup costs of operating a business in a specific industry
- 11. government license that gives the holder exclusive rights to a process, design or new invention for a designated period of time
- 12. a company's financial debt or obligations that arise during the course of its business operations
- 16. something you own
- 17. describes a market structure where competition is at its greatest possible level
- 18. payment to a worker in addition to salary or wages
- 20. an agreement to divide the market, set prices, or limit productions
Down
- 1. uses the surplus revenues to further achieve its purpose rather than distributing it to the shareholders as profit
- 2. portion of corporate profits paid out to stock holders
- 4. small number of firms has the large majority of market share
- 5. formal organization of producers that agree to coordinate prices and production
- 7. laws that designate separate areas for residency & business
- 8. share of earnings given as a payment
- 10. formal contract to repay borrowed money
- 13. a store, restaurant, or other business operating under such a license
- 14. marketable item produced to satisfy wants or needs
- 15. make a product stand out with unique values
- 19. type of security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings