market classification according to number and size of firms, type of product, and type of competition; nature and degree of competition among firms in the same industry
a theoretical market structure that requires three conditions: very large numbers of buyers and sellers, identical products, and freedom of entry and exit
group of firms producing similar or identical products
theoretical market structure characterized by a large number of well-informed independent buyers and sellers who exchange identical products and have freedom of entry and exit
market structure having all conditions of pure competition except for identical products; a form of imperfect competition
real or imagined differences between competing products in the same industry
competition based on a product's appearance, quality, or design, rather than it's price
market structure in which a few large sellers dominate and have the ability to affect prices in the industry; form of imperfect competition
illegal agreement among producers to fix prices, limit output, or divide markets
illegal agreement by firms to charge a uniform price for a product
market structure characterized by a single producer; form of imperfect competition
philosophy that government should not interfere with business activity
market structure in which average costs of production are lowest when all output is produced by a single firm
market structure in which a firm has a monopoly because of its location or the small size of the market
market structure in which a firm has a monopoly because it owns or controls a manufacturing method, process, or other scientific advantage
monopoly created and/or owned by the government
condition where any of the requirements for a competitive market leads to an inefficient allocation of resources characterized by too much or too little being produced
economic products that are paid for and consumed collectively; such as highways, national defense, police
uncompensated side effects that either benefit or harm a third party not involved in the activity that caused it
uncompensated side effects that affect an uninvolved third party
calculation that compares the cost of an action to its benefits
illegal combination of corporations or companies organized to suppress competition
practice of charging different customers different prices for the same product
ruling requiring a company to stop an unfair business practice that reduces or limits competion
increasingly efficient use of personnel, plant, and equipment as a firm becomes larger

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Chapter 7




Chapter 7


Quality crossword


Economic Terms


running a venture


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What is a crossword?

Crossword puzzles have been published in newspapers and other publications since 1873. They consist of a grid of squares where the player aims to write words both horizontally and vertically.

Next to the crossword will be a series of questions or clues, which relate to the various rows or lines of boxes in the crossword. The player reads the question or clue, and tries to find a word that answers the question in the same amount of letters as there are boxes in the related crossword row or line.

Some of the words will share letters, so will need to match up with each other. The words can vary in length and complexity, as can the clues.

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Crosswords can use any word you like, big or small, so there are literally countless combinations that you can create for templates. It is easy to customise the template to the age or learning level of your students.

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Once you’ve picked a theme, choose clues that match your students current difficulty level. For younger children, this may be as simple as a question of “What color is the sky?” with an answer of “blue”.

Are crosswords good for students?

Crosswords are a great exercise for students' problem solving and cognitive abilities. Not only do they need to solve a clue and think of the correct answer, but they also have to consider all of the other words in the crossword to make sure the words fit together.

If this is your first time using a crossword with your students, you could create a crossword FAQ template for them to give them the basic instructions.

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Crosswords are a fantastic resource for students learning a foreign language as they test their reading, comprehension and writing all at the same time. When learning a new language, this type of test using multiple different skills is great to solidify students' learning.

We have full support for crossword templates in languages such as Spanish, French and Japanese with diacritics including over 100,000 images, so you can create an entire crossword in your target language including all of the titles, and clues.