Chapter 2 Business Plan

4. Right to sell a company's goods or services in a particular area.
9. Business that buys products from wholesalers or directly from manufacturers and resells them to consumers.
10. Cost of passing up the next best choice when making a decision.
12. Overall goal for a company's future; included in the business plan.
15. Science that deals with examining how goods and services are produced, sold, and used.
16. Intangible action or task that is performed, usually for a fee.
17. All of the goods and services that a business sells
20. General category of business operations that generate profit.
21. How a market is organized; is based on the number of businesses competing for sales in an industry.
23. All the activities required to make a product.
24. Costs involved in operating a business.
26. Term for all the activities involved in developing and exchanging products.
28. Something that a person desires, but can function without.
29. Message to the customer as to why a business exists; included in the business plan.
30. Business that purchases large amounts of goods directly from manufacturers for resale to various retailers.

1. Written plan of action to ensure a positive and rapid response to a changing situation.
2. Physical, or tangible items, that can be touched and used.
3. Economic resources, including natural resources, Human Resources, and capital resources.
5. Actual realistic market structure under which many small businesses operate.
6. The natural resources, Human Resources, and capital resources with which a country creates goods and provides services.
7. Day-today activities necessary to keep a business up and running.
8. As a function of business, includes all the business activities that involve money.
11. Guide that leads an entrepreneur through nine logical questions when brainstorming new business ideas.
13. Written document that describes in detail the strategy for creating a new business.
14. Basic activities of a business, which include production, finance, marketing, and management.
18. Something that is necessary for survival, such as food, clothing, and shelter.
19. Possibility of loss or injury that might occur while running a business.
21. Business that turns raw materials from natural resources or product components into new products for sale.
22. Anything that can be bought or sold, which includes both goods and services.
25. Financial Statements based on then best e
27. Money moving into and out of a business.