iGCSE Business - Section 1 Understanding Business Activity

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Across
  1. 3. are the aims or targets that a business works towards.
  2. 6. is the money invested into a business by the owners.
  3. 7. has social objectives as well as an aim to make a profit to reinvest ba,ck into the business.
  4. 9. employed, the total value of capital used in the business.
  5. 11. when one business buys out the owners of another business, which then becomes part of the 'predator’ business (the business which has taken it over).
  6. 15. is a good or service which people would like to have, but which is not essential for living. It is unlimited.
  7. 17. is a form of business in which two or more people agree to jointly own a business.
  8. 20. is any person or group with a direct interest in the
  9. 22. total income of a business (revenue) less total costs.
  10. 23. the percentage of total market sales held by one brand or business.
  11. 29. are the owners of a limited company. They buy shares which represent part-ownership of the company.
  12. 31. is a good or service essential for living.
  13. 33. is the next best alternative given up by choosing another item.
  14. 35. growth caused when a business expands its existing operations.
  15. 37. sector of industry extracts and uses the natural
  16. 38. the cost of bought-in materials and components.
  17. 40. are payments made to shareholders from the profits (after tax) of a company. They are the return to shareholders for investing in the company.
  18. 41. sector of industry manufactures goods using the raw materials provided by the primary sector.
  19. 43. business type that does not have a separate legal identity. Sole traders and partnerships are unincorporated businesses.
  20. 44. integration is when one business merges with or takes over another one in the same industry at the same stage of production.
  21. 45. sector of industry provides services to consumers and the other sectors of industry.
  22. 46. plan, a document containing the business objectives and important details about the operations, finance and owners of the new business.
  23. 47. means that the owners of a business can be held responsible for the debts of the business they own. Their liability is not limited to the investment they made in the business.
  24. 49. is a business owned by one person.
  25. 50. a business based upon the use of the brand names, promotional logos and trading methods of an existing successful business. The franchisee buys the licence to operate this business
  26. 51. an economy that has both a private sector and a public (state) sector.
  27. 52. when the owners of two businesses agree to join their businesses together to make one business.
Down
  1. 1. is a person who organises, operates and takes the
  2. 2. means that the liability of shareholders in a company is limited to only the amount they invested.
  3. 4. occurs when people and businesses concentrate on what they are best at.
  4. 5. are those resources needed to produce goods or services. There are four factors of production and they are in limited supply.
  5. 8. for a new business venture.
  6. 10. _____ limited companies are businesses owned by shareholders but they can sell shares to the public and their shares are tradeable on the Stock Exchange.
  7. 12. is a legal requirement for all companies. Shareholders may attend and vote on who they want to be on the Board of Directors for the coming year.
  8. 13. integration is when one business merges with or takes over another one in the same industry but at a different stage of production. Vertical integration can be forward or backward.
  9. 14. is the written and legal agreement between business partners. It is not essential for partners to have such an agreement but it is always recommended.
  10. 16. occurs when there is a decline in the importance of the secondary, manufacturing sector of industry in a country.
  11. 18. controlled by the state (government).
  12. 19. and activities of a business.
  13. 21. combine factors of production to make products (goods and services) which satisfy people’s wants.
  14. 24. business type that have separate legal status from their owners.
  15. 25. integration is when one business merges with or takes over a business in a completely different industry.
  16. 26. growth caused when a business takes over or merges with another business. It is often called integration as one business is integrated into another one.
  17. 27. ______ limited companies are businesses owned by shareholders but they cannot sell shares to the public.
  18. 28. is when the production process is split up into different tasks and each worker performs one of these tasks. It is a form of specialisation.
  19. 30. where two or more businesses start a new project together, sharing capital, risks and profits.
  20. 32. a business in the public sector that is owned
  21. 34. there exist unlimited wants but limited resources to produce the goods and services to satisfy those wants. This creates scarcity.
  22. 36. value, is the difference between the selling price of a product
  23. 39. is the lack of sufficient products to fulfil the total wants of the population.
  24. 42. of Earth to produce raw materials used by other businesses.
  25. 48. the franchisor.