Year 10 Commerce Terms

3. The fluctuations of an economy between growth and contraction.
5. A legal decision serving as a rule for future similar cases.
7. Trading goods and services directly without using money.
9. A general increase in prices and fall in the purchasing value of money.
11. A person who starts and runs a business, taking on financial risks.
15. A state of disorder due to absence of authority or laws.
16. A judicial officer who presides over lower courts.
17. Raising funds by borrowing, which must be repaid with interest.
18. A system of government by the whole population through elected representatives.
19. A business model where a franchisee is licensed to operate under the franchisor's brand.
21. The natural fluctuation of the economy between expansion and contraction.
22. Law developed through judges' decisions rather than statutes.
23. The business of trading goods and services between countries.
24. A business owned and operated by one person with unlimited liability.

1. Raising capital by selling shares of the company.
2. The relationship between the availability of a product and the desire for it.
4. The state of being without a job while actively seeking work.
6. Law enacted by a legislative body; written law.
8. The highest court in Australia, handling constitutional cases.
10. The authority given to a legal body to administer justice.
12. An institution that channels funds from savers to borrowers.
13. A period of high economic activity and low unemployment in the business cycle.
14. A business owned by two or more people sharing profits and liabilities.
20. A civil wrong causing harm or loss, leading to legal liability.