2.05 Key Terms Crossword

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Across
  1. 2. the government controls the prices the company charges
  2. 5. money earned after taking explicit and implicit costs into account
  3. 7. an ideal type of market structure where all producers and consumers have full and symmetric information and no transaction costs
  4. 12. loss to an organisation caused by human factors
  5. 14. the desire for financial gain as an incentive in economic activity
  6. 19. the action or fact of making a specified thing smaller or less in amount
  7. 20. risks recognized in risk management that are related to the loss of natural assets
  8. 22. an expense that a business incurs through its normal business operations
  9. 24. anything that could impact your companies business
  10. 25. the risk involved in investing in a business opportunity in an international market
  11. 27. money received, especially on a regular basis
  12. 28. an organization's ability to prevent employee turnover
Down
  1. 1. a category of risk that when undertaken results in an uncertain degree of gain or loss
  2. 3. a state of limited competition
  3. 4. risks that are beyond human control
  4. 6. one of many ways that a product or service can compete in the marketplace
  5. 8. refers to how different industries are classified and differentiated based on their degree
  6. 9. businesses produce different goods but target the same market and customer segments
  7. 10. the action of keeping away from or not doing something
  8. 11. change in ownership or transfer of all or a material portion of the business to another entity
  9. 13. when competitors compete without lowering their prices out of concern about a price war
  10. 15. the profit a company makes after deducting the costs associated with making and selling its products
  11. 16. when two or more businesses offer the same product or service and compete for the same market
  12. 17. the actual profit after working expenses not included in the calculation of gross profit have been paid
  13. 18. the activity or condition of competing
  14. 21. the cost required for something the money spent on something
  15. 23. the cost of any items made over the course of the year
  16. 26. a business that is characterized by a lack of competition within a market and unavailable substitutes for its product