Monopoly

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Across
  1. 2. A market with only one dominant seller
  2. 3. The standard of a product or service
  3. 7. Expenditure used to advertise and promote a product
  4. 10. CAPITAL Large amounts of money that may be needed to establish a business
  5. 12. A product with no close substitute
  6. 13. The ability of consumers to select between different products
  7. 14. The machinery, knowledge and methods used in production
Down
  1. 1. Lower average costs resulting from increased production
  2. 4. Government rules that can prevent new firms entering an industry
  3. 5. A restriction that prevents new competitors from entering a market
  4. 6. MAKER A firm that can influence the price rather than simply accepting it
  5. 8. Producing at the lowest possible cost
  6. 9. Creating new products or methods of production
  7. 11. Protection given to an inventor for a new invention