Business 1&2 chapters

1. a business formed by two or more people
3. the diffenrence between the cost of pursaching in puts and selling the finished goods
5. a jointly owned business operated by membersfor their mutual benefit
6. an indivdual that pursaches goods or services from a business
8. a document that describes a business objectives and srategies
11. higher prces as a result of successful ......
12. is important for success of any new enterprice
13. a document confirming part-ownership of a company
14. a sector that specialized for all indusries that extracct natural resources
16. factor of production
17. factor of production- coordination provided by entrepreneurs , provides managing
18. a person who is responsible for turning an idea into profitable new product
19. the legal right to use the name, logo and trading systems of an existing successful business
20. machines and commercial vehicles

1. a business that is owned by shareholders who are often members of the same family
2. the next most desired option that is given up
4. an economy that is planned and controlled by the state
7. a company whose shares are traded on a stock exchange
9. a business in which one person provides the permanent finance
10. business owners have full legal responsibility for the debts of the business
15. a sector that provides services to customers and other businesses