Cambridge IGCSE Business Studies - Chapter 1: Business Activity

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Across
  1. 5. Natural resources provided by nature, such as fields, forests, oil, and mineral deposits
  2. 6. The basic economic problem resulting from unlimited wants combined with limited resources
  3. 9. The process of transporting and supplying finished goods or services to the customer
  4. 10. The process of producing, buying, or selling goods and services
  5. 11. When people, businesses, or countries concentrate on what they are best at
  6. 14. BUYING Purchasing large quantities of goods at one time, usually resulting in lower unit costs
  7. 15. Goods or services that people would like to have, but which are not essential for living
  8. 17. Goods or services that are essential for living, such as food, water, shelter, and clothing
  9. 21. SERVICE The assistance and advice provided by a company to people who buy or use its products
  10. 22. VALUE The difference between the selling price of a product and the cost of the raw materials used to make it
  11. 24. Media communication used to inform or persuade consumers to purchase a product or service
Down
  1. 1. Reductions in the normal selling price of a product offered to attract customers or reward volume
  2. 2. Ensuring a product or service meets or exceeds customer expectations and standards
  3. 3. A person who organises, operates, and takes on the financial risks of a new business venture
  4. 4. Finance, machinery, tools, and equipment used by a business to produce goods and services
  5. 7. Non-physical or intangible products provided by businesses, such as healthcare, banking, or tourism
  6. 8. The wrapping or container in which a product is sold, designed for protection and promotion
  7. 12. COST The next best alternative given up when making a choice or decision
  8. 13. An organisation that combines factors of production to make goods or services to satisfy consumer wants
  9. 16. A business or individual that provides goods or services to another business
  10. 18. The skill and risk-taking ability of the person who brings together the other factors of production
  11. 19. Physical or tangible items produced by businesses, such as cars, clothing, or mobile phones
  12. 20. The process of creating a unique name, image, and identity for a product to differentiate it from competitors
  13. 23. The human effort, both physical and mental, used in the production of goods and services