Business

3. Unlimited wants cannot be met because there are limited factors of production, this creates scarcity, this is called...
5. Good or services which people would like, but not essential for living are called...
8. Non-tangible products such as insurance services, transport are called...
9. Able to cut costs and win a greater share of the market, develop new products or sell to new markets, can also be external or internal, this is called...
10. A mix of private sector and public sector enterprises is called...
12. The benefit that could have been gained from an alternative use of the same resource is called...
13. Investing in new products or selling more of existing products is called...
16. The part of the economy that is owned and controlled by the state or government is called...
17. The process of producing goods and services to satisfy consumer demand is called...
19. A sector that's concerned with making and assembling products ,manufacturers use raw materials and parts from other industries, is called...

1. A complete description of a business and its plans for the next one to three years is called...
2. A sector that's concerned with using natural resources, including farming, mining and oil drilling, is called...
4. Physical goods, such as machinery and delivery vehicles, used by other businesses to help produce other goods and services are called...
6. When there are not enough goods and services to meet the wants of the population, that's called...
7. Products which are sold to the final consumer, can be seen and touched are called...
11. Involves the takeover of another business or merger with another business is called...
14. A person that takes risks in a business is called...
15. A sector that gives something of value to people( a service), is called...
16. The part of the economy where the resources are owned and controlled by both the private and public sectors, that's called ...
18. Goods or services that are essential to living are called...