Chapter 5 Vocab.

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Across
  1. 4. Exclusive control over a product or the means of producing it
  2. 7. Demand in the organizational market that is based on, or derived from, the demand for consumer goods and services.
  3. 9. A business that obtains goods from manufacturers and resells them to organizational users, other wholesalers, and retailers, also called distributors
  4. 11. A document granting an inventor sole rights to an item or an idea
  5. 13. A business that seeks to make a profit from its operations
  6. 14. A business relation in which parties compete to gain customers
  7. 15. When businesses choose to compete on the basis of factors that are not related to price, including the quality of the products, service, financing, business location, and reputation
  8. 16. the process of dealing with or controlling things or people.
  9. 17. A word, name, symbol, sound, brand name, brand mark, trade name, trade character, color, or combination of these elements that identifies a good or service and cannot be used by anyone but the owner because it is registered with the federal government and has legal protection
  10. 19. Consumers willingness and ability to buy products. The law of demand is the economic principle that price and demand move in opposite directions
  11. 20. A business that sells its products in more than one country
  12. 22. A business that sells its products only in its own country
  13. 24. Business ownership by ordinary people, not the government
  14. 26. the action of making or manufacturing from components or raw materials, or the process of being so manufactured.
Down
  1. 1. The amount of goods producers are willing to make and sell
  2. 2. A focus on the sale price of a product. The assumption is that, all other things being equal, consumers will buy the products that are lowest in price
  3. 3. A group that functions like a business but uses the money it makes to fund the cause identified in its charter
  4. 5. Government- financed agencies, such as the Environmental Protection Agency
  5. 6. A group of establishment primarily engaged in producing or handling the same product or group of products or in rendering the same services
  6. 8. Anything that is authored by an individual, such as writings, music, and artwork
  7. 10. Business not associated with government agencies
  8. 12. the action or process of keeping financial accounts.
  9. 18. A business that buys goods from wholesalers or directly from manufacturers and resells them to consumers
  10. 21. The potential for financial gain, loss, or failure
  11. 23. the management of large amounts of money, especially by governments or large companies.
  12. 25. The money earned from conducting business after all costs and expenses have been paid