Business Acitivity

2. The support a business offers their customers — both before and after they buy and use a business's products or services.
8. This is the skill and risk-taking ability of the person who brings the other resources of the factors of production together
11. Combine factors of production to make products (goods and services) which satisfy people's wants
13. These are tangible things that are produced, bought or sold, then finally consumed
15. This is the number of people available to make products
17. The finance, machinery and equipment needed for the manufacturer of goods
19. The difference between the selling price of a product and the cost of bought in materials and components
20. An individual who purchases goods and services for personal use.
21. of Production Those resources needed to produce goods or services and they are in limited supply
22. Occurs when people and businesses concentrate on what they are best at
24. This measures how efficiently production inputs, such as labour and capital, are being used in an economy to produce a given level of output

1. A person, company, or country that makes, grows, or supplies goods or commodities for sale
2. An individual consumer or organisation that purchase goods or services from a business.
3. This is the reduction in the amount of wasted resources that are used to produce a given number of goods or services (output)
4. These are the non-physical, intangible parts of our economy, as opposed to goods
5. A good or service essential for living
6. A good or service that you wish to have, so as to add comforts in your life, but not essential for living.
7. When the production process is split up into different tasks and each worker performs one of these tasks. It is a form of specialisation
9. There exists unlimited wants but limited resources to produce the goods and services to satisfy those wants.
10. The next best alternative given up by choosing another item
12. Products designed to be used once and then disposed of or destroyed
14. These are consumer goods that do not wear out quickly, and therefore do not have to be purchased frequently
16. An item offered for sale. It can be a service or an item. It can be physical or in virtual or cyber form
18. The lack of sufficient products to fulfil the total wants of the population
23. This refers to all the natural resources provided by nature and includes fiends and forests, oil, gas, metals and other mineral resources