Across
- 8. Advantage of large firms
- 9. Total revenue will ______ if price increases in an inelastic product.
- 11. Businesses owned by individuals
- 13. Attempt by a firm to distinguish its product from that of the rival
- 14. When one firm in an industry reduces price, causing others to do the same
- 15. a legal term used to describe the rights that creators have over their literary and artistic works
- 17. How the size of a firm is measured
- 20. Businesses owned by the state
- 21. a social science concerned with the production, distribution and consumption of goods and services.
Down
- 1. Allocation of resources determined entirely by the public sector
- 2. People or organization that own shares in a company
- 3. when a firm regularly becomes more active and successful then suddenly fails
- 4. License that grants permission to operate as a sole producer of a newly designed product
- 5. is the economic term describing the existence of high startup costs or other obstacles that prevent new competitors from easily entering an industry or area of business.
- 6. Factor influencing the growth of large firms
- 7. Government issues document that gives a firm the right to discharge a certain quantity of polluting material into the environment
- 10. Changes in a variable causes a minor impact to another
- 12. all other things kept equal
- 16. Changes in a variable causes a greater change in another
- 18. Official order to halt trade with another country
- 19. Type of country when the tertiary sector is beginning to grow