Choice 3
Across
- 4. A risk-response strategy that involves assuming responsibility for the risk rather than transferring it.
- 6. Rivalry between or among businesses that offer similar types of goods or services.
- 10. A type of rivalry between or among businesses that involves factors other than price.
- 11. The desire to make a profit.
- 12. Chances of loss that carry with them the possibility of loss or no loss.
- 17. market structure is controlled by 1 dominant supplier with no subtitutes.
- 18. A monopoly that the government allows to exist legally under controlled conditions.
- 20. Chances of loss that may result in loss, no change, or gain.
- 21. A market structure in which there are relatively few sellers, and industry leaders usually determine prices.
- 22. (gross profit-operating expense)
- 24. Rivalry between or among businesses that offer subtitute goods or services.
- 25. The possibility of loss or failure that occurs as a result of the economy.
- 26. The possibility of loss or failure from human error.
- 27. possibility of loss or gain in business.
Down
- 1. rivalry between 2 or more businesses over similar products
- 2. The amount of money a business pays for the products it sells or for the raw materials from which it produces goods to sell
- 3. choosing not to do something because it is risky
- 5. A risk-response strategy that involves moving the impact of a risk to someone or something else.
- 7. (income-expense)
- 8. (income from sales-cost of goods)
- 9. All of the expenses involved in running a business.
- 13. money a business spends
- 14. A market structure in which there are many businesses selling a lot of identical products for about the same price to many buyers; also known as pure competition.
- 15. The type of market, or environment, in which businesses operate.
- 16. A risk-response strategy that involves trying to reduce the chance of loss or severity of loss.
- 19. risk of loss or failure by nature.
- 23. The money received by resource owners and by producers for supplying goods and services to customers.