Across
- 2. A return of part of the price a customer pays for a good or service; usually offered by the product’s manufacturer
- 5. fixing: Illegal business agreement in which businesses agree on prices of their goods or services, resulting in little choice for the customer
- 6. discrimination: An illegal activity in which a business charges different customers different prices for similar amounts and types of products
- 9. competition: Rivalry between or among businesses that offer dissimilar goods or services
- 10. Trade Commission Act: A federal regulation that established a regulatory agency, the Federal Trade Commission (FTC), to monitor business activities in order to prevent unfair competition
- 11. agreement: An illegal agreement that forbids customers from buying goods and services from competitors
- 13. competition: A type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars
- 14. enterprise system: An economic system in which individuals and groups, rather than the government, own or control the means of production; also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system
- 15. competition: Rivalry between or among businesses that offer similar types of goods or services
- 19. A market structure in which there are relatively few sellers, and industry leaders usually determine prices
- 20. A type of market structure in which a market is controlled by one supplier, and there are no substitute goods or services readily available
Down
- 1. Antimerger Act: A federal regulation intended to protect competitors from takeovers that would limit competition
- 3. Using minimum amounts of resources to the best advantage
- 4. competition: A market structure in which there are many businesses selling a lot of identical products for about the same price to many buyers; also known as pure competition
- 7. monopoly: A monopoly that the government allows to exist legally under controlled conditions
- 8. structure: The type of market, or environment, in which businesses operate
- 12. The rivalry between two or more businesses to attract scarce customer dollars
- 16. Act: A federal regulation intended to prevent specific business actions that might restrict competition (e.g., tying agreements and exclusive agreements)
- 17. competition: A type of rivalry between or among businesses that involves factors other than price (e.g., customer services, modern facilities, trained personnel, and variety of products)
- 18. competition: A type of market structure in which a lot of businesses sell similar products that have only a few differences