COMMERCE REVISION

3. a business usually owned and operated by between two and 20 people
6. borrowing money to be paid back at a future date with interest
9. A condition or circumstance that puts a company in a favourable or superior business position
11. business entities, in the case of private companies, public companies and incorporated associations.
13. population characteristics that affect customer spending and include age, ethnicity, gender, marital status, family size and income.
14. a business that is owned and operated by one person

1. between two and 50 private owners called shareholders. They issue stock and have shareholders, but their shares do not trade on public exchanges
2. an economic principle referring to a consumer's desire and willingness to pay a price for a specific good or service
4. strengths, weakness, opportunities and threats
5. business entities, in the case of sole traders and partnerships
7. raise money by selling shares in your business, either to your existing shareholders or to a new investor
8. a person who engages in business activities, especially those that involve risks to make a profit, in order to make profit
10. have an unlimited number of shareholders
12. research collecting and analysing information about customers and business opportunities available.