Across
- 4. a market structure in which a single producer supplies a unique product that has no close substitutes
- 5. a combination of firms
- 11. a product that can set a price for a product, rather than accepting the market price
- 13. a market structure in which many producers supply an identical product and no single producer can influence its price
- 15. legislation designed to limit the formation of monopolies or combinations of firms that act to restrict competition
- 16. the time and money consumers spend shopping for the best product at the best price
- 17. a contract issued by a government entity that gives a firm the sole right to provide a good or service in a certain area
Down
- 1. the greater efficiency and cost savings that result from large scale or mass production
- 2. a market controlled by a single firm for reasons of efficiency
- 3. a legal permit to operate a business or enter a market
- 6. the organization of a market, based mainly on the degree of competition
- 7. the initial expense of launching a business
- 8. any market structure in which producers have some control over the price of their products
- 9. the ability of producers to influence prices
- 10. an obstacle that can restrict a producer's access to a market and limit competition
- 12. a product that is exactly the same no matter who produces it
- 14. a producer that has no influence over the price of a product