Important Terms Related to Business

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Across
  1. 5. The money or assets invested in a business by the owner to start and operate the business.
  2. 6. The process where individuals, workers, businesses, or countries focus on producing a particular good or providing a specific service in order to become more efficient.
  3. 8. Anything that is generally accepted as a medium of exchange for goods and services and can also be used to measure value and store wealth.
  4. 9. Tangible (physical) items that satisfy human wants and can be bought and sold.
  5. 10. Financial obligations or debts that a business owes to individuals or organizations.
  6. 11. A person or business that owes money to another party, usually for goods or services received on credit.
  7. 14. The process of trading goods and services between buyers and sellers, usually using money.
  8. 15. Individuals or firms that create goods or provide services to satisfy the wants and needs of consumers.
  9. 16. A person or business that is owed money by another party.
  10. 17. The quantity of a good or service that consumers are willing and able to purchase at a given price over a certain period of time.
  11. 20. Individuals or households who purchase goods and services for personal use.
Down
  1. 1. Any situation or place where buyers and sellers interact to exchange goods and services.
  2. 2. The quantity of a good or service that producers are willing and able to offer for sale at a given price over a certain period of time.
  3. 3. System A method of exchange where goods and services are traded directly for other goods and services without the use of money.
  4. 4. A raw material or primary agricultural product that can be bought and sold, such as sugar, bauxite, or oil.
  5. 7. Resources owned by a business that have economic value and can help the business earn income.
  6. 12. A person who identifies a business opportunity, organizes resources, takes risks, and manages the business with the aim of earning profit.
  7. 13. An organization or activity involved in producing, buying, and selling goods or services with the aim of making a profit.
  8. 15. The financial gain made when total revenue exceeds total expenses in a business.
  9. 18. The system by which a country organizes and manages its resources to produce and distribute goods and services to meet the needs of its people.
  10. 19. Intangible activities provided to satisfy human wants and needs.