2.05 Key Terms Crossword

2. the government controls the prices the company charges
5. money earned after taking explicit and implicit costs into account
7. an ideal type of market structure where all producers and consumers have full and symmetric information and no transaction costs
12. loss to an organisation caused by human factors
14. the desire for financial gain as an incentive in economic activity
19. the action or fact of making a specified thing smaller or less in amount
20. risks recognized in risk management that are related to the loss of natural assets
22. an expense that a business incurs through its normal business operations
24. anything that could impact your companies business
25. the risk involved in investing in a business opportunity in an international market
27. money received, especially on a regular basis
28. an organization's ability to prevent employee turnover

1. a category of risk that when undertaken results in an uncertain degree of gain or loss
3. a state of limited competition
4. risks that are beyond human control
6. one of many ways that a product or service can compete in the marketplace
8. refers to how different industries are classified and differentiated based on their degree
9. businesses produce different goods but target the same market and customer segments
10. the action of keeping away from or not doing something
11. change in ownership or transfer of all or a material portion of the business to another entity
13. when competitors compete without lowering their prices out of concern about a price war
15. the profit a company makes after deducting the costs associated with making and selling its products
16. when two or more businesses offer the same product or service and compete for the same market
17. the actual profit after working expenses not included in the calculation of gross profit have been paid
18. the activity or condition of competing
21. the cost required for something the money spent on something
23. the cost of any items made over the course of the year
26. a business that is characterized by a lack of competition within a market and unavailable substitutes for its product