Unit 3 Study Guide

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Across
  1. 4. merger of different businesses contributing to one product
  2. 5. ___ competition; market structure where many sellers sell the same product
  3. 6. ____ capitalist; an entrepreneur who helps finance other entrepreneurs
  4. 7. organization that tries to control market; illegal in U.S.
  5. 9. business organization that legally separates you from your business
  6. 11. merger of firms in different industries
  7. 13. merger of firms in same industry
  8. 15. ____ sector unions; members work for the government
  9. 19. ___ competition; market structure where many sellers have their own brands
  10. 21. a profit-seeker who starts a business and assumes the risk of loss
  11. 22. when management keeps the workers out
Down
  1. 1. laws that keep firms from controlling markets
  2. 2. government stays out of business decisions
  3. 3. binding ____; imposed when labor and management can't agree on terms
  4. 8. ____ bargaining; when unions and management negotiate terms
  5. 9. many sellers in this market structure
  6. 10. agreement among sellers to illegally set prices
  7. 12. when union withholds labor from a firm
  8. 14. ____ partnership; one partner has liability, other does not
  9. 16. ______ monopoly; occurs when one firm can satisfy demand
  10. 17. only one seller in this market structure
  11. 18. economies of ____; concept that benefits large businesses
  12. 20. market structure with only a few sellers