Y7 Business

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Across
  1. 4. Production method that makes lots of identical items.
  2. 5. This helps a business monitor the products in its portfolio.
  3. 7. Setting a high initial price for a new or innovative product, then lowering it over time as competition increases.
  4. 11. This type of business can only sell shares to friends and family.
  5. 13. High market growth but low market share.
  6. 15. This is the amount received from the sales of your goods.
  7. 17. This type of liability means you are personally responsible for all of the business's debt.
  8. 19. A person who purchases goods and services for personal use.
  9. 23. The basic material from which a product is made.
  10. 24. This is when a product/service is in demand but customers needs are not currently being met.
  11. 26. This is the amount you sell your goods for.
  12. 27. Adding a fixed percentage or amount to the cost of producing a product to determine its selling price.
  13. 28. Sells goods to the public in relatively small quantities.
  14. 29. Something that you cannot live without.
  15. 30. A method used to increase the sales of a product in decline.
  16. 32. This is simply the fixed and variable costs added together.
  17. 34. Sells goods in large quantities at low prices, typically to a retailer.
Down
  1. 1. This is what the business has to pay for the things that it buys.
  2. 2. Production method that makes unique, one-off products.
  3. 3. Series of steps that create a product or service.
  4. 4. These stay the same even if the amount sold or produced increases or decreases.
  5. 6. The stages a product can go through from producer to consumer.
  6. 8. A combination of tactics a business use to successfully market a business idea.
  7. 9. Selling over the phone e.g. mobile phones companies, broadband.
  8. 10. Selling goods and services electronically.
  9. 12. business owned by only 1 person.
  10. 14. Anyone in between the manufacturer and the consumer.
  11. 16. Where the industry obtains/extracts raw materials e.g. mining, fishing or forestry.
  12. 18. The level of output where total costs are equal to total revenue.
  13. 20. This is how you get the word out about your product.
  14. 21. Something that is consumed but is not physical.
  15. 22. This is using data that has already been collected by somebody else.
  16. 25. This sector provides a service. It can include transport, advertising, supermarkets and other services such as teaching.
  17. 31. If your total costs are higher than your revenue, you will make this.
  18. 33. Total revenue minus total costs.