Business unit 4

3. A firm with more than 25% market share.
4. The moral principles that should underpin decision making.
6. A fall in the value of money.
8. This means taking an idea for a new product or process and turning it into a commercial success.
9. A production process that can be continued indefinitely because it uses resources that are not depleting.
10. Handing power down the hierarchy to managers and workers.
11. Measures how efficiently a firm turns inputs into the production process into outputs.
12. An individual with a flair for business opportunities and risk taking.

1. The site(s) where a firm decides to carry out its operations.
2. When firms get together and discuss ways to work together in order to raise prices.
5. The pressures leading to the world becoming one “market”
7. A document a company has to produce when they go public.
13. A tax placed on imports in order to increase price.