Business

5. Occurs when there is a decline in the importance of the secondary manufacturing sector of industry in a country.
8. Companies that have separate legal status from their owners
10. Are those resources needed to produce goods and services. There are four factors of production and they are in limited supply
11. When one business merges with or takes over a business in a completely different industry. This is also known as diversification.
12. The aims or targets that a business works towards
13. Any person or group with direct interest in the performance and activities of a business

1. Does not have a separate legal identity. Sole traders and partnerships are unincorporated businesses
2. When one business merges with or takes over another one in the same industry at the same stage of production
3. Business in the public sector that is owned and controlled by the state [government]
4. Has both a private sector and a public (state) sector
6. When one business merges with or takes over another one in the same industry but at a different stage of production. Can be forward or backward.
7. Two or more businesses start a new project together, sharing capital, risks and profits
9. The lack of sufficient products to fulfil the total wants of the population