Across
- 6. the difference between the selling price of a product and the cost of bought-in materials and components
- 8. is the money invested into the business by the owners
- 11. industry extracts and uses the natural resources of earth to produce raw materials used by other businesses
- 12. is the next bet alternative given up by choosing another item
- 13. industry provides services to consumers and the other sector of industry
- 15. has both a private sector and a public (state) sector
Down
- 1. occurs when people and businesses concentrate on what they are best at
- 2. is when the production process is split up into different tasks and each worker performs one of these tasks
- 3. industry manufactures goods using the raw materials provided by the primary sector
- 4. is a good or service essential for living
- 5. combine factors of production to make products
- 7. is a good or service which people would like to have, but which is not essential for living
- 9. is the lack of sufficient products to fulfil the total wants of the population
- 10. this creates scarcity
- 14. occurs when there is a decline in the importance of the secondary, manufacturing sector of industry in a country