1.
Illegal combinations of corporations or companies organized to suppress competition
2.
A theoretical market structure that requires large number of buyers and sellers, identical products, and freedom of entry and exit
3.
Increasingly efficient use of personnel, plant, and equipment that lowers the average cost of production as a firm becomes larger
4.
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
5.
Illegal agreement among producers to fix prices, limit output, divide markets, or otherwise agree to reduce competition
6.
Uncompensated side effects that either benefit or harm a third party not involved in the activity that caused it
7.
Real or imagined differences between competing products in the same industry
8.
Process in which a lender reclaims the property due to a lack of payment by the borrower
9.
Competition based on a product's appearance, quality, or design, rather than its price
10.
Philosphy that government should not interfere with business activity
11.
Market structure in which a few large sellers dominate the market and have the ability to affect prices in the industry
12.
Group of firms producing similar or identical products
13.
Illegal agreement by firms to charge a uniform price for a product
14.
Market structure having all conditions of pure competition except for identical products
15.
Market structure characterized by a single producer
16.
Practice of charging different customers different prices for the same product
17.
Market classificaition according to number and size of firms, type of product and competition
18.
Economic products that are consumed collectively, such as highways, national defense, police and fire protection
19.
Legal document that pledges ownership of a home to a lender as security for repayment of borrowed money
