Business key terms

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Across
  1. 2. Services
  2. 6. Have to have
  3. 7. Same industry, different stages of production
  4. 12. This can be rented or bought. It also includes natural resources such as oil, forests, and rivers.
  5. 13. Is the idea
  6. 14. Same stage of production.
  7. 15. Manufacturing
  8. 17. When workers and businesses focus on what they are best at.
  9. 19. These are the physical equipment, tools and machinery needed to run the business. Capital also includes money that is used to set the business up.
  10. 20. Projections, cash flow for 1 year.
Down
  1. 1. difference between the selling price and cost of production
  2. 3. Unlimited wants + limited resources=
  3. 4. Two Different
  4. 5. of labour is when the production process is split into different tasks and each worker performs a different part of the task.
  5. 8. “A document containing business objectives and essential details about the business's operations, finance and ownerssiness.
  6. 9. This includes all the people who are paid for their services and also people who offer their services for free (e.g. voluntary workers or the family of a business owner.)
  7. 10. Give details about what products you hope to provide and sell. Give rough guides to the prices that you may charge.
  8. 11. Skills This is the person who develops the business idea and runs the business. An entrepreneur takes the risks, has the ideas and reaps the rewards through profit (or suffers any losses!)
  9. 16. Desirable
  10. 18. Raw materials (extraction)