Across
- 2. There are many buyers and many sellers. No barriers to entry and all firms supply identical goods
- 5. the state of continuing to exist if a firms fails to survive it goes bankrupt
- 6. share the percentage of total sales in a market that is achieved by one particular firm or good
- 9. the degree to which buyers view a good as being distinct from alternative goods from within that market
- 11. the degree to which a new firm can start supplying a market without experiencing factors that give it a competitive disadvantage against existing firms
- 12. measures the combined market share of the largest firms in a particular market
- 13. increasing the firm's sales volumes of total revenue over a period of time
Down
- 1. Supply of goods is dominated by a few firms
- 3. a firm that has to accept the equilibrium price set by the market
- 4. Characteristics of a market thats affects how firms compete and the welfare of consumers
- 7. exists when there is a single supplier in the market
- 8. There is only one firm supplying goods in an industry
- 10. power when firms have considerable influence in a market due to their market size, usually above 25%