Across
- 3. government owned or authorized only one producer
- 5. formal organization of sellers or producers that agree to act together
- 6. costs of production are lowest when only one firm provides output
- 9. attempt to distinguish a product from a similar products
- 10. a business that does not have to consider competition when settings its prices
- 11. economic model examines competition among businesses in same industry
- 12. a mderated discussion with small groups of consumers
- 13. situation in which the average cost ofproduction falls as the producer grows
- 15. using factor other than low price
- 16. many sellers offer similar, but not standardized product
- 18. product consumers consider identical
- 19. expenses to enter a market
Down
- 1. wholesale markets for farm products such as corn and beef
- 2. controls a manufacturing method, an invention, or a type of technology
- 4. hinders a business from entering a market
- 7. business that cannot set the prices for its product
- 8. no other producers or sellers within a certain region
- 9. legal registration of an invention or a process that gives the inventor the exclusive property right to it
- 10. ideal model of a market economy
- 14. market structure with only one seller
- 17. percent of total sales in a market