Business

7. The non-tangible products sold to the general public – they include hotel accommodation, insurance services and train journey
8. A joitly owned business operated by members for their mutual benefit, to produce or distribute good or services.
9. a business in which one person provides the permanent finance and, in return, has full control of the business and is able to keep all of the profits
10. A business formed by two or more people to carry on a business together, with shared capital investment and, usually, shared
13. business owners have full legal responsibility for the debts of the business
14. a person or business that buys the right from the franchise to operate the franchise
18. firms that manufacture and process products from natural resources, including computers, brewing, baking, clothes - making and construction
20. The benefit of the next most desired option which is given up
21. the difference between the cost of purchasing bought-in inputs (materials) and the selling price of the finished goods

1. Economic resources are owned and controlled by both private and public sectors
2. a person or business that sells the right to open stores and sell products or services, using the brand name and brand identity
3. increasing the difference between the cost of bought-in inputs (materials) and the selling price of the finished goods
4. The physical and tangible goods sold to the general public – they include durable consumer goods, such as cars and washing
5. a jointly owned business operated by members for their mutual benefit, to produce or distribute goods or services
6. a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecasts
11. a business with mainly social objectives that re-invests most of its profits into benefiting society rather than maximising returns to owners
12. A business that uses the name, logo and trading systems of an existing successful business
15. An individual consumer or organisation that purchases goods or services from a business
16. a business employee who takes direct responsibility for turning an idea into a profitable new product or business venture
17. the process of differentiating a product by developing a symbol, name, image or trademark for it
19. An individual who has the idea for a new business, starts it up and carries most of the risks but benefits from the rewards