business studies

1. a complete description of a business and its plans for the next one to three years
6. concerned with using natural resources. They include farming, mining and oil drilling
9. when two business combine to form a single company
12. concerned with making and assembling products manufacturers use raw materials and parts from other industries.
13. goods or services that are essential to living
15. an economic system in which some industries are controlled privately and some by the government
17. investing in new products or selling more of existing products.
18. The benefit that could have been gained from an alternative use of the same resource
19. the focus on specific tasks and activities. It can lead to increased production levels, and result as over-concentration on particular activities and products.

2. To create products and services
3. able to cut costs and win a greater share of the market
4. when a business tries to add value at every stage of the production process so that they can sell the product or service to customers at a greater price.
5. If the business succeeds, the entrepreneur makes a profit.
7. Goal: provide an essential economic service for the nation.
8. when one business gains control of part of another business
10. involves the takeover of another business or merger with another business.
11. good or services which people would like, but not essential for living
14. give something of value to people, but are not physical goods like cinema, or a lesson.
16. educational background and what they have done.
17. on of the characteristics of a successful entrepreneur