Business Studies

6. This is pay which is related to the effectiveness of the employee.
8. This is a small, usually specialized, segment of a much larger market.
10. This is the reason why employees want to work hard and work effectively for the business.
12. This is where a quantity of one product is made, then a quantity of another item will be produced.
14. This is a good or service essential for living.
15. This is a method of assessing the effectiveness of an employee.
17. This is when people are selected on the basics of certain characteristics(e.g age or gender) as a source of information for market research.
18. This is where buyers and sellers come together to exchange products for money; this will not usually be a single location.
19. This is the lack of sufficient products to fulfill the total wants of the population.

1. This is when consumers keep buying the same brand again and again instead of choosing a competitor's brand.
2. This is the next best alternative give by choosing another item.
3. This is the fall in value of a fixed asset over time.
4. This outlines the responsibilities and duties to be carried out by someone employed to do a specific job.
5. This is an introduction given to a new employee, explaining the firm's activities customs and procedures and introducing them to their fellow workers.
6. This is a system whereby a proportion of the company's profits is paid out to employees.
7. This is when the price is set lower than the competitors' prices in order to be able to enter a new market.
9. This is the finance needed by a new business to pay for essential fixed and current assets before it can begin trading
11. These are non-financial rewards given to employees.
13. This is where the emphasis of advertising or sales promotion is to give information about the product.
16. This is a good or service which people would like to have, but its not essential for loving-these are unlimited.