Across
- 5. agreement among firms to divide market, set prices, or limit production
- 7. legally bound obligation to pay debts
- 9. combination of two or more companies into single firm
- 13. large corporation that produces and sells its goods and services throughout the world
- 15. business organization owned and operated by group of individuals
- 16. producer's average cost per unit fall as output rises
- 17. partners share equally responsibility and liability
- 20. establishment formed to carry on commercial enterprise
- 21. division of customers into groups based on ow much they will pay for good
Down
- 1. few large firms dominate market
- 2. business owned and managed by one person
- 3. single seller
- 4. large number of firms producing the same product
- 6. expenses a firm must pay before it can open
- 7. only one partner is required to be general partner
- 8. functions like a business but does not operate for purpose of generating profits
- 9. ability of company to change prices and output like a monopolist
- 10. many companies sell products that are similar but not identical
- 11. difficult for new firm to enter market
- 12. formal organization of producers that agree to coordinate prices and production
- 14. legal entity owned by individual stockholders
- 18. agreement among firms to charge one price for same good
- 19. right to sell good or service within exclusive market