Revision Topic 1

2. Refers to the money invested in the business on a long term basis.
5. Need to be prepared to keep going when faced with problems/issues that any new business is likely to have.
9. Promoting and selling products or services
10. Government provide one type of ways to encourage specific economic activity by reducing tax payments.
12. A business whose shares cannot be sold to the general public Or shares only sold to family and friends
14. Liability means a person or company ___ usually money.
16. One way of business plan that helps entrepreneur is help u_____ the possible risk.
17. A payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset.

1. One of the problem of using '_____' is Higher output may lead to selling cheaper products but employ more workers.
3. Definition: Own legal business structure set apart from the individual who founded the business.
4. Under which classification of businesses does insurance fall?
6. One of the disadvantages of specialisation is ___ doing the same job can result in boredom for the workers.
7. Think positively about new ventures
8. A person who organises, operates and takes the risk for a new business venture
11. How many companies must agree at minimum to establish a joint venture for initiating a project?
13. How many documents do you need for registered as a limited company?
15. Definition: When an acquiring company makes a ___ to assume control of a target company.