Market structure

3. — a market dominated by a few large
9. structure — the way a market is organised, based on the number of firms, competition, and pricing
10. — rivalry between firms to attract
12. good — a good whose demand changes a lot when price changes.
13. maker — a firm that can influence or set the price.

1. — a market with one buyer.
2. — a product that can be used instead of another product.
4. good — a good whose demand changes only a little when price
5. taker — a firm that cannot set its own price and must accept the market
6. competition — a market with many sellers but differentiated
7. — a market with one supplier and no close substitute.
8. price — the current price at which buyers and sellers
11. competition — a market with many sellers, identical products, free entry, and no firm controls the