2.05 key terms

3. Risks associated with the actions or behavior of individuals within a business.
5. Ongoing costs incurred by a business to maintain its operations.
7. Competition faced by a business from companies that offer substitute or alternative products or services.
10. Potential negative impact on business operations and financial performance due to changes in the overall economy.
12. Driving force behind business activities, where the goal is to maximize profits.
15. Preventing or staying away from potential risks or negative outcomes.
17. The possibility of financial loss or failure that a company may face.
20. Costs incurred by a business to operate and generate revenue.
22. Financial gain or positive difference between total revenue and total expenses.
23. Market structure characterized by a large number of small firms, homogeneous products, and ease of entry and exit.
24. Money earned by a business from its operations, sales, or investments.
25. Risks that involve only the possibility of loss or no loss, without any potential for gain.
26. Market structure in which a single company or entity has exclusive control over the supply of a product or service.

1. Risks arising from natural events or disasters.
2. Difference between sales revenue and the cost of goods sold, before deducting operating expenses.
4. Amount of money left after deducting all expenses from total revenue.
6. Competition faced by a business from companies that offer similar products or services.
8. Market structure in which a few large firms dominate the market and have significant control over prices and competition.
9. Rivalry between businesses or individuals in the same market, vying for customers and market share.
11. Competition based on offering lower prices compared to competitors.
13. Competition based on factors other than price, such as product quality or customer service.
14. Expenses incurred by a business to produce or acquire goods for sale.
16. Characteristics and organization of a market, including the number and size of firms, barriers to entry, and degree of competition.
18. Monopolies subject to government regulations and oversight.
19. Act of decreasing or minimizing risks or potential negative outcomes.
21. Shifting or passing on risks to another party or entity.