Across
- 6. A negative effect of monopolies, such as price manipulation due to lack of competition
- 8. A positive effect of monopolies, like consistent pricing or innovation under government regulation
- 9. The potential for innovation as companies build on one another’s successful ideas
- 13. The variety of new inventions and creative products resulting from strong competition
- 15. A market structure with many sellers offering identical products at the same price
Down
- 1. Waste of resources due to heavy competition and excessive marketing efforts
- 2. A market structure with many businesses selling similar but not identical products at different prices
- 3. Means "one," describing that a monopoly has only a single supplier in the market
- 4. The process businesses use in monopolistic competition to make their products stand out through features or marketing
- 5. A product identical to another, allowing buyers to switch with no difference in value (e.g., potatoes, carrots)
- 7. An illegal practice where businesses in an oligopoly secretly work together to fix prices or limit competition
- 10. How a business is organized based on the number of businesses competing for sales in an industry
- 11. The risk of companies working together to overcharge consumers without consequences
- 12. A market structure with one business that has complete control over an entire market’s supply of goods or services
- 14. A market structure with a small number of businesses selling the same or similar products