Business

2. Customers who have bought products on credit and will pay cash at an agreed date in the future.
7. Dividing a market into distinct groups of consumers who share common tastes and requirements.
9. When a business cannot meet its short-term debts.
11. Agreement between firms in which each agrees to commit resources to achieve an agreed set of objectives.
13. A long-term goal the business wants to achieve
15. Arises when a business is valued at or sold for more than the balance sheet values of its assets
16. The income received from the sale of a product.
17. An agreement by shareholders and managers of two businesses to bring both firms together under a common board of directors with shareholders in both businesses owning shares in the newly merged business.
19. Within a large corporation who takes direct responsibility for turning an idea into a profitable finished product.
20. When a firm ceases trading and its assets are sold for cash
21. A group of people acting together to meet the common needs and aspirations of its members, sharing ownership and making decisions democratically.

1. Deliberately undercutting competitors' prices in order to try to force them out of the market.
3. Setting a high price for a new product when a firm has a unique or highly differentiated product with low price elasticity of demand
4. A written document, describes a business's objectives and strategies, the market it is in, and its financial forecast.
5. Producing a limited number of identical products.
6. using barriers to free trade, such as tariffs and quotas, to protect a country's own domestic industries.
8. When revenue equals total costs and the business is making neither profit nor loss.
10. Two or more businesses agree to work closely together on a particular project and create a separate business division to do so.
12. The total value of capital raised from shareholders by the issue of shares.
14. When a company buys over 50% of the shares of another company and becomes the controlling owner----often referred to as "acquisition".
18. A business that uses the name, logo, and trading systems of an existing successful business.