Market Structure Crossword Puzzle

QUESTIONS LIST:

• market structure : the way a market is organised, based on the number of firms, competition, and pricing
• competition : rivalry between firms to attract
• perfect competition : a market with many sellers, identical products, free entry, and no firm controls the
• monopolistic competition : a market with many sellers but differentiated
• oligopoly : a market dominated by a few large
• monopoly : a market with one supplier and no close substitute.
• monopsony : a market with one buyer.
• price taker : a firm that cannot set its own price and must accept the market
• price maker : a firm that can influence or set the price.
• market price : the current price at which buyers and sellers
• elastic good : a good whose demand changes a lot when price changes.
• inelastic good : a good whose demand changes only a little when price
• substitute : a product that can be used instead of another product.