Market Structure Crossword Puzzle

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Market Structure Crossword Puzzle

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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.