BUSN101 MOD1 Puzzle

3. Market - An economic system where prices are determined by unrestricted competition between privately owned businesses.
5. - An economic and political system in which the government makes all decisions regarding production and allocation of goods.
7. Trends - Changing societal behaviors and attitudes that influence how businesses operate.
9. Corporation - A company that produces and sells goods in multiple countries.
12. - An economic system in which the government owns and operates major industries, but individuals own small businesses.
17. - The act of taking initiative to start and run a business with the goal of earning profit.
18. Ethics - An approach to ethics that focuses on moral principles and organizational values rather than strict compliance.
20. - Transferring business processes to another country to reduce costs.
21. Advantage - When a country can produce a good more efficiently than any other country using the same resources.
23. - All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address.

1. Advantage - The ability of a country to produce goods more efficiently than another country.
2. Challenges - Issues like war, terrorism, and natural disasters that businesses must prepare to face.
3. Policy - The use of government spending and taxation to influence the economy.
4. - The financial gain made after deducting total expenses from total revenue.
6. Economy - An economic system that blends elements of both capitalism and socialism.
8. - The rivalry among businesses to sell goods and services to consumers.
10. - The chance an entrepreneur takes of losing time and money on a business that may not prove profitable.
11. Social Responsibility - The concern businesses have for the welfare of society as a whole.
13. of Ethics - A formal statement of an organization’s values regarding ethical and social issues, guiding employees on acceptable behavior.
14. - The total value of all goods and services produced in a country in a given year.
15. - A tool that businesses use to improve efficiency, communication, and production processes.
16. Policy - Government actions that manage the money supply and interest rates to influence the economy.
17. - The study of what is right and wrong, and how people make decisions.
19. (Total Cost of Ownership) - A financial estimate intended to help buyers determine the direct and indirect costs of a product or service.
22. Protectionism - Government policies that limit imports to protect domestic industries.