Chapter 5 Business in the U.S Economy

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Across
  1. 6. Boomers - the people born between 1946 and 1964, turned 65.
  2. 7. - are guidelines used in making consistent decisions.
  3. 9. worker - is one who has no explicit or implicit contract for long-term employment.
  4. 11. agreement - is a written agreement among all owners.
  5. 17. Chart - is a diagram that shows the structure of an organization classification of work and jobs, and the relationships among those classification.
  6. 18. of Directions - the people who will make the major policy and financial decisions for the business.
  7. 19. of incorporation - is a written legal document that defines ownership and operating procedures and conditions for the business.
  8. 20. Organizational structure - work is structured around specific projects, products, or customer groups.
  9. 21. Corporation - is a group of people who join to do some activity that benefits the public.
  10. 22. - are businesses involved in selling the goods and services of producers to consumers and other businesses.
  11. 23. - is the obligation to complete specific work.
  12. 25. - is a separate legal entity formed by documents filed with a state.
  13. 28. Bylaws - are the operating procedures for the corporation.
  14. 30. Liability Company - provides liability protection for owners.
  15. 31. - creates the products and services used by individuals and other business.
  16. 33. of Command - there is a clear reporting relationship for all staff of a business.
Down
  1. 1. organizational structure - work is arranged within main business functions such as production, operations, marketing, and human resources.
  2. 2. - is the right to make decisions about how responsibilities should be accomplished.
  3. 3. - are descriptions of the way work is to be done.
  4. 4. Statement - is a short, specific written statement of the reason a business exists and what it wants to achieve.
  5. 5. - the company purchasing the rights to run the business.
  6. 8. - is owned by members, serves their needs, and is managed in their interest.
  7. 10. - the company that owns the product or service and grants the rights to another business.
  8. 11. - is a business owned and run by just one person.
  9. 12. – a business that takes resources from nature for direct consumption or for use in developing other products.
  10. 13. — is taking responsibility for the results archive.
  11. 14. Venture - is a unique business organized to operate for a limited time and for a specific project.
  12. 15. - get supplies from other producers and convert them into products.
  13. 16. of Control - is the number of employees who are assigned to a particular work task and manager.
  14. 24. - is a written contract granting permission to operate a business to sell products and services in a set way?
  15. 26. - is a precise statement of results the business expects to achieve.
  16. 27. - cultivate land and use other natural resources to grow crops and raise livestock for consumption
  17. 29. ration - offers the limited liability of a corporation.
  18. 32. Business - carries out activities that are consumed by its customers.