Unit 1 Revision Crossword 1

1. Refers to ‘how well’ a business uses resources to achieve objectives.
5. is an individual or organisation that grants a franchise.
9. Liabilities the business owner is personally responsible for all the debts of his or her business.
10. Managing an organisation in such a way that the broader social welfare of the community is taken into consideration when making business decisions.
13. Indicators are found in the accounting records and are expressed in dollar terms.
14. Businesses that offer rival products or services.
17. The Environment that is made up of the broad conditions and trends in the economy and society within which a business operates.

2. Includes those factors over which the business has some degree of control.
3. Actions undertaken to achieve the business’s marketing objectives.
4. An incorporated business with a minimum of two, and a maximum of 50 private shareholders.
6. A democratic organisation owned and controlled by the people it serves, who join together for a common benefit.
7. A set of ethical standards by which managers and employees should abide.
8. The process of assessing whether the business has achieved stated objectives.
11. an unincorporated legal business structure with a minimum of two and a maximum of 20 owners.
12. compares the strengths and weaknesses of a business against those of other successful businesses, with the aim of reforming those processes that are not achieving the business’s objectives.
15. A business makes a …. when the income earned (revenue) is greater than the costs of production (expenses).
16. A business structure where a trustee (usually a company) holds property or carries out business on behalf of the members of the trust, known as beneficiaries.