Across
- 3. products and services which are necessary for survival
- 5. a summary of what the business owns and what the business owes at a given point in time
- 10. take responsibilities and reducing the chance of financial loss
- 11. statement which shows the profit performance of a business over a period of time
- 14. cost the benefit forgone when productive resources are put into their next best productive use
- 17. the government owns and controls the economic system
- 18. developing new ideas
- 19. economic problems of comparing limited resources with unlimited needs and wants
- 20. relate to the interaction with others
- 21. what the business owns and belongs to the business
- 22. distribution of finished product and other service activities
- 23. the extraction of raw material
- 26. money coming into the business from the sale of goods and services
Down
- 1. able to change and adapt to different situations
- 2. to think about the future
- 4. the stage of manufacturing raw meterials into intermidiate goods and services
- 6. sending and receiving information
- 7. a person perpared to able to take risks
- 8. estimate of income and expenses for a set period of time
- 9. how to minimise the relative scarcity
- 12. what the business owes and must be paid back to someone else outside of the business
- 13. a person who is able to come up with new ideas and put them into action
- 15. discussion aimed at reaching an agreement
- 16. a study of the decisions, outcomes and activities that occur as a result of scarcity of resources
- 24. factors of production
- 25. money used up in the process of earning revenue and cannot be reused