Key Terms within the Business Environment

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Across
  1. 3. Anything tangible (building/property/land, plant/equipment/machinery, furniture, inventory and securities like stocks, bonds or cash) and intangible trademarks, patents, copyrights and company brand) that a business owns to produce a good or service.
  2. 5. A person, company or country that makes, grows or supplies goods or commodities for sale.
  3. 6. Also referred to as the sales or income you get from business activity in a given time. It is the value of all sales of goods and services provided by a business.
  4. 8. The difference between total sales and total costs; it is the remainder after all costs have been deducted from revenue.
  5. 9. The money spent on something or an outflow of money to another individual or company.
  6. 13. An individual who sets up and runs a new business and takes on the risks associated with the business.
  7. 14. An organization that is set up to satisfy needs and wants. The main aim of most entities is to maximize profits
  8. 16. An entity that offers financial services to the general public and companies; it allows you to save and borrow.
  9. 17. A fixed amount borrowed from a financial institution (a bank) or an individual (parents/businessman/woman) to finance business startup or purchase of long-term assets.
  10. 18. A subset of a population or a small quantity intended to represent the whole.
  11. 19. The place (or places) from which a firm does business. Can be both a physical location and also virtual.
  12. 20. A person responsible for planning, coordinating and directing resources.
Down
  1. 1. The factors of production (e.g. land, labour, capital and enterprise). They can be renewable and non-renewable.
  2. 2. The resources (land, labour, capital, enterprise) that go into producing goods and services.
  3. 4. A detailed plan of income and expenses expected over a certain period of time
  4. 7. person who purchases goods and services for personal use.
  5. 10. Any place (e.g. physical, electronic) where buyers and sellers come together with a view to exchanging transactions
  6. 11. Acquiring asses by renting or hiring
  7. 12. The amount of a product or service that customers are willing and able to pay at a given time.
  8. 15. A business that provides goods and services to other firms.