Topic 4 Competition And Market Structures

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Across
  1. 3. The removal of government controls over a market
  2. 5. Selling a product below cost for a short period of time to drive competitors out of the market
  3. 7. A market structure in which many companies sell products that are similar but not identical
  4. 9. Any factor that makes it difficult for a new firm to enter a market
  5. 12. An agreement among firms to charge one price for the same good
  6. 13. A market that runs most effectively when one large firm provides all of the output
  7. 15. A product that is considered the same no matter who produces or sells it
  8. 16. A market structure in which a large number of firms all produce the same product and no single seller controls supply or prices
  9. 17. A license that gives the inventor of a new product the exclusive right to sell it for a specific period of time
  10. 18. An illegal agreement among firms to divide the market, set prices, or limit production
Down
  1. 1. A market in which a single seller dominates
  2. 2. The expenses a new business must pay before it can begin to produce and sell goods
  3. 4. The decision of consumers into groups based on how much they will pay for a good
  4. 6. A market structure in which a few large firms dominate a market
  5. 8. When two or more companies join to form a single firm
  6. 10. Laws that encourage competition in the marketplace
  7. 11. A government-issued right to operate a business
  8. 14. A way to attract costumers through style, service,or location, rather than a lower price