Across
- 3. Internal stakeholders whose main goal is meeting profit targets, not owning the capital.
- 5. An external environmental factor that restricts or limits a firm’s behavior and performance.
- 7. A need that economic actors choose to satisfy specifically through the market. (two words)
- 8. A group of firms producing products or services that act as direct substitutes for each other.
- 10. A consumer need that is backed by a real willingness and ability to pay. (two words)
- 11. Mechanisms (market, organizational, or institutional) required by economic actors because specialization creates interdependence.
- 13. Type of business behavior where a firm actively shapes its environment through innovation or lobbying, instead of just reacting (e.g., Apple).
- 14. A market structure dominated by a few large, interdependent sellers/firms with high entry barriers (e.g., Boeing vs. Airbus).
- 15. Any person or group that has a significant, lasting, and mutual relationship with a firm.
- 16. The central process where a firm must create value for both customers and owners at the same time. (two words)
Down
- 1. Opportunistic tension between owners and managers caused by information asymmetry. (two words)
- 2. The specific price-quantity combination where planned buying and planned selling match perfectly in a market.
- 4. The basic economic problem where human wants are unlimited but available resources are limited.
- 6. A 6-dimension macroeconomic framework used to map the external environmental forces (Political, Economic, Sociocultural, Technological, Environmental, Legal).
- 9. A higher-level goal that motivates individuals with different personal goals to cooperate.
- 12. A market structure with a single dominant seller who has very strong market power and no close substitutes.