Across
- 2. a type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars.
- 6. a type of market structure in which a market is controlled by one supplier and there are no substitute goods or services readily avaiaible.
- 10. a market structure in which there are many businesses selling a lot of identical products for about the same price to many buyers; also known as pure competition.
- 12. a risk-response strategy that involves moving the impact of a risk to someone or something else.
- 13. the type of market, or environment, in which businesses operate.
- 14. the money that a business spends.
- 16. a risk-response strategy that involves assuming responsibility for the risk rather than transferring it.
- 19. the possibility of loss or failure that occurs as a result of the economy.
- 24. monopolies that the government allows to exist legally under controlled conditions.
- 26. the possibility of loss or failure from nature.
- 27. a risk-response strategy that involves choosing not to do something that is considered risky.
- 28. the possibility of loss (failure) or gain (success) inherent in conducting business.
Down
- 1. rivalry between or among businesses that offer dissimilar goods or services.
- 3. the amount of money a business pays for the products (or for any part of the products) it sells.
- 4. rivalry between or among businesses that offer similar types of goods or services.
- 5. a market structure in which there are relatively few sellers, and industry leaders usually determine prices.
- 7. money left after the cost-of-goods expense is subtracts from total income(income from sales - cost of goods = gross profit).
- 8. money left after the cost-of-goods expense and the operating expense are each subtracted from the total income(gross profit - operating expense = net profit).
- 9. a type of rivalry between or among businesses that involves factors other than price.
- 11. the rivalry between two or more business to attract scarce customer dollars.
- 15. monetary reward a business owner receives for taking the risk involved in investing in a business;income left once all expenses are paid(income - expenses = profit).
- 17. the desire to make a profit, which moves people to invest in business.
- 18. a risk-response strategy that involves trying to reduce the chance of loss or severity of loss.
- 20. all of the expenses involved in running a business.
- 21. the money received by resource owners and by producers for supplying goods and services to customers.
- 22. chances of loss that may result in loss, no change, or gain.
- 23. chances of loss that carry with them the possibility of loss or no loss.
- 25. the possibility of loss or failure from human failure.