Business Studies

3. trader / The most common and most simple form of business organisation, often just one person.
6. / The service or physical good being sold by the company.
7. satisfaction / How happy the customer is with the product or service.
8. / The simplest way two or more people can be in business together, where partners are jointly and personally responsible for debts.
10. company / A business recognised as a legal unit that offers investors (shareholders) limited liability.
11. description / A detailed statement of the nature of the jobs and the tasks involved.
12. / The will to work due to the enjoyment of the work itself.
14. / The value of sales made during a trading period, also called revenue.
15. / When revenue is less than costs.

1. / An agreement between businesses owners to combine two businesses and operate as a larger one.
2. / The amount sold or the value sold.
4. Leadership / Mangers who involve workers and less senior managers in decision-making.
5. / The legal right to use the name and logo of an exsisting firm and sell the same products.
7. / Money that the businss has available to it straight away, such as money in its bank account.
8. / What is left after costs have been deducted from revenue.
9. of scale / The average costs of each item fall as a firm expands.
10. / The place (real or virtual) in which the business operates.
13. / An increase in turnover (sales), market share or profit.
16. / When a worker is paid a fixed amount per month or year, no matter what hours they work.