iGCSE Business - Section 1 Understanding Business Activity

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