Question

directions read each clue. choose a word from the word bank to complete the puzzle.
word bank
competition patent copyright natural
government market control limit
clues

1. it is hard to get into and out of a — if there is a pure monopoly.
2. a pure monopoly is the opposite of pure —.
3. the utilities industries are examples of — monopolies.
4. the — of a very important resource is required to form a monopoly.
5. a — protects an invention for 17 years.
6. a monopoly cannot exist without — approval.
7. government laws protecting inventors and writers — competition.
8. a — helps ensure that the work of writers and artists cannot be sold without their permission.

directions write the answers to the following questions. use complete sentences.

1. in the puzzle, what word do the letters in the box spell?
2. write two examples of why monopolies do not benefit consumers.

Explanation:

1. In a pure monopoly, entry and exit barriers make it hard for firms to enter or leave the market.
2. Pure competition has many firms, while a pure monopoly has one firm.
3. Utilities like water and electricity are natural monopolies due to high infrastructure costs.
4. Controlling a key resource (natural limit) can create a monopoly.
5. A patent gives exclusive rights to an invention for 17 years.
6. Government approval (e.g., for utilities) is often needed for monopolies.
7. Copyrights and patents (government laws) limit competition.
8. A copyright protects writers' and artists' works.
9. The letters in the box spell "control".
10. Monopolies can charge higher prices (no competition) and reduce output (maximize profit, not consumer welfare).

Answer:

1. market
2. competition
3. natural
4. natural limit
5. patent
6. government
7. control
8. copyright
9. The letters spell "control".
10. Monopolies can charge higher prices (no competition) and reduce output (maximize profit, not consumer welfare).