Across
- 3. Sector Part of the economy under the control of private individuals and businesses, rather than the government. (sole traders, partnerships, corporations)
- 7. Form of private sector business owned by 1 - 20 people. They share the responsibilities and burdens of running and owning the business.
- 11. Sector Business activity is concerned with the provision of services to customers
- 12. There is a legal difference between the owners of a company and the business itself. Ensures that the owners are safeguarded against any losses made by the companies.
Down
- 1. The owner is legally the same as the business (he or she is treated as a single entity) Owner is personally responsible for all debts
- 2. Sector Business activity is concerned with the construction and manufacturing of physical products.
- 3. Sector Part of the economy under the control of the government
- 4. - governmental organization (NGO) Any private sector organization that does not primarily aim to make profit. Instead, they operate for the benefit of others in society
- 5. Sector Businesses involved in the extraction of natural resources, such as farming, mining, fishing, etc.
- 6. Liability Restriction on the amount of money that can be lost from the owners of a business if it goes into bankrupcy
- 7. Limited company Incorporated business organization that allows the general public to buy and sell shares in the company via stock exchange
- 8. trader Self - employed person. He or she runs the business on their own and has sole responsibility for its success or failure.
- 9. Liability No limit to how much debt a sole trader is legally responsible to pay if failure
- 10. Limited company Business organization owned by shareholders with limited lability but whose shares cannot be bought or sold to the general public (stock exchange)