Business Basics & Brainstorming Wednesday Clock In

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Across
  1. 1. Anything that can be bought or sold, which includes both goods and services.
  2. 4. How a market is organized and is based on the number of businesses competing for sales in an industry. The four basic market structures are oligopoly, monopoly, perfect competition, and monopolistic competition.
  3. 7. Physical, or tangible, items that can be touched and used. Examples include food, clothing, and toothpaste.
  4. 10. All activities required to make a product. It applies to goods, services, and ideas.
  5. 11. Includes all the activities that involve money.
  6. 14. A business that is independently owned and operated, organized for profit, and not dominant in its field.
  7. 17. A business that buys products either from wholesalers or directly from manufacturers and resells them to consumers.
  8. 18. The economic principle relating the quantity of products available to meet consumer demand.
  9. 20. Production, finance, marketing, and management.
  10. 22. Something necessary for survival, such as food, clothing, and shelter.
  11. 23. The costs involved in operating a business.
Down
  1. 2. The money flowing into and out of a business.
  2. 3. product components into new products for sale.
  3. 5. How people, governments, and companies make choices about using limited resources to satisfy unlimited needs and wants.
  4. 6. Resources: Resources needed to create goods and provide services.
  5. 8. A business that has the right to sell a company’ s goods or services in a particular area.
  6. 9. The cost of passing up the next best choice when making a decision.
  7. 12. The earnings that a business receives for the goods and services it sells. Revenue is also called income.
  8. 13. Something that a person desires, but could function without, such as a new cell phone or a vacation.
  9. 14. Intangible actions or tasks that are performed, usually for a fee.
  10. 15. A business that turns raw materials from natural resources
  11. 16. Canvas model: A guide that leads an entrepreneur through nine logical questions when brainstorming new business ideas.
  12. 19. All the activities involved in developing and exchanging products.
  13. 21. A business that purchases large amounts of goods directly from manufacturers.