Business Essentials

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Across
  1. 1. markets dominated by a small number of suppliers
  2. 4. risks recognized in risk management that are related to the loss of natural assets
  3. 5. a product that is in a different category altogether but which is seen as an alternative purchase choice
  4. 6. Rivalry between or among businesses that offer similar types of goods or services
  5. 9. a strategy that businesses can adopt to reduce their level of risk by avoiding certain high-risk activities altogether
  6. 10. the difference between a company's total revenue and its total cost of goods sold
  7. 11. risks that are beyond human control and result in a loss or no loss with no possibility of financial gain
  8. 14. the money you have left after paying for business expenses
  9. 18. a category of risk that can be taken on voluntarily and will either result in a profit or loss
  10. 19. companies try to sell their products or services at lower prices than similar products or services sold by other companies
  11. 20. customers return to purchase or continue using a product or service
  12. 24. the contest or rivalry among the companies selling similar products and/or targeting the same target audience
  13. 25. you intend to earn more in revenue from the activity than you incur in expenses
  14. 26. affect an investment or a company's prospects domestically or abroad
  15. 27. the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail
  16. 28. the government controls the prices the company charges as well as other key operational policies
Down
  1. 2. an expense that a business incurs through its normal business operations
  2. 3. the way that various industries are classified and differentiated in accordance with their degree and nature of competition for products and services
  3. 7. income received from the sale of products or services
  4. 8. use promotional expenditures such as marketing campaigns, brand management costs, advertising, sales staff, sales promotions, free gifts, and free delivery services
  5. 12. occurs when all companies sell identical products, market share does not influence price, companies are able to enter or exit without barriers, buyers have perfect or full information, and companies cannot determine prices
  6. 13. loss to an organisation caused by human factors including the decisions and non-decisions, actions and non-actions of its people
  7. 15. the total amount your business paid as a cost directly related to the sale of products
  8. 16. the process of decreasing a company's expenses to maximize profits
  9. 17. a market structure where a single seller or producer assumes a dominant position in an industry or a sector
  10. 21. costs a business incurs, and they are often tax-deductible
  11. 22. the movement of assets, monetary funds, and/or ownership rights from one account to another
  12. 23. the sales income minus all the business costs