Business Studies - F4 (Section 1)

3. Plan, Document containing the business objectives and important details about the operations, finance and owners of the new businesses.
7. A form of business in which two or more people agree to jointly own a business.
8. , ______________ Growth When a business expands its existing operations.
10. _________________________ Business One that does not have a separate legal entity. Sole traders and partnerships are unincorporated businesses.
11. There are unlimited wants but limited resources to produce the goods and services to satisfy wants.
14. ______________ GrowthWhen a business takes over or merges with another business.
16. Trader, A business owned by one person
17. Business ___________________ are aims and targets that a business works towards.
19. When people and businesses concentrate on what they are best at.
20. A person who organises, operates and takes the risk for a new business venture.
21. Money invested into the business by owners.

1. Employed, Total value of capital used in the business.
2. A good or service that is essential for living.
4. Cost, The next best alternative given up by choosing another item.
5. There is a decline in the importance of the secondary, manufacturing sector of industry in a country.
6. Payments made to shareholders from the profit (after tax) of a company. They are the return to shareholders for their investment in the company.
9. When two businesses agree to join their firms together to make one business.
12. Liability, The liability of shareholders in a company is only limited to the amount they invested.
13. Value, _____________ is the difference between the selling price of a product and the cost of bought-in materials and components.
15. Economy, Has both a private sector and a public sector.
18. Combines factors of production to make products (goods and services) that satisfy people's wants.