Business Studies

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Across
  1. 3. Economy Has both a public and a private sector
  2. 6. Any person or group with direct interest in the performance and activities of a business
  3. 8. The next best alternative given up by choosing another item
  4. 11. The resources need to produce goods or services. There are four and are in limited supply
  5. 12. A good or service essential for living
  6. 14. The difference between inflow and outflow of cash
  7. 15. Manufactures goods using the raw materials provided by the primary sector
  8. 17. Results from their being unlimited wants but limited resources to provide the goods and services to satisfy these wants. This creates scarcity
  9. 19. The money invested into a business by the owners
  10. 20. The cash inflows and outflows of a business over a period of time
  11. 24. When a business takes over or merges with another business
  12. 25. The surplus after total costs have been subtracted from the sales revenue
  13. 26. When one business buys out the owners of another business which then becomes part of the predator business
  14. 28. When owners of two companies agree to join together their firms to make one business
  15. 29. The finance needed by a new business to pay for essential fixed and current assets before it can start trading
Down
  1. 1. The lack of sufficient products to satisfy the total wants of the population
  2. 2. A good or service which people would like to have but which is not essential for living.
  3. 4. Factors that lead to a reduction in average costs as a business increases in size
  4. 5. Giving authority to a subordinate to perform particular tasks. The final responsibility, however, remains in the hands of the manager
  5. 7. Have direct authority over subordinates in their department. They are able to take decisions in their departmental area
  6. 9. Business which controls all of the market for a product
  7. 10. Number of subordinates working directly under a manager
  8. 13. The difference between the selling price of a product or service and the cost of bought in materials and components
  9. 16. When the production process is split up into different tasks and each worker performs one of these tasks
  10. 18. Cash Balance Amount of cash held by the business at the end of each month. This becomes the next month’s opening cash balance
  11. 21. No government control over factors of production
  12. 22. When one firm merges with or takes over another one in the same industry at the same stage of production
  13. 23. The structure in an organization which allows instructions to be passed down from senior management to lower levels of management
  14. 27. Combine factors of production to make products which satisfy the people’s wants