Across
- 3. The owners are not responsible for the debts of the business. The limit of their liability for the business’ debts is the amount they invested.
- 7. A business’ ability to make maximum profit with low operating expenses.
- 8. The sale of the rights to use/sell a product by a franchisor to a franchisee. A fixed fee and/or a percentage is paid in return. The franchiser specifies the standards and provides training and support.
- 9. When two or more businesses agree to join together.
- 11. One business takes control of another.
- 13. Those people who own shares in a limited company; each shareholder is a part owner of the business.
- 15. Money that the business has in cash or at the bank.
- 16. The intention to reach a goal.
- 19. A business that is owned and operated by one person.
- 20. The cost of making one choice concerning the use of limited resources at the expense of an alternative choice.
- 24. A business’ goals that relate to fair treatment of the people concerned: customers, investors, suppliers or workers.
- 25. The difference between the money received from the sale of a good/service and the amount it cost; the amount that remains after all the costs have been paid. Profit = total revenue – total cost.
- 26. A detailed statement of how the business intends to operate, either at start-up or during a given period of time. Business plans are based on forecasts and so cover only a short time.
- 31. A specific statement that defines a precise goal that can be measured and delivered within a given time.
- 32. The capacity of a business to stay in business. It is dependent on the business selling sufficient amounts of its goods/services to cover all its costs.
- 36. The extent of the owner’s/owners’ responsibility for the debts of the business.
- 37. Two or more businesses join together.
- 39. Individuals who own the business or own a share(s) in it, in return for the rights to decision making and profits, balanced with the risks involved.
- 40. When the owner(s) are responsible for all the debts of the business. Their personal funds would be used to settle the business’ debts if the business’ funds were insufficient.
Down
- 1. Associations, charities, co-operatives or voluntary organisations set up to further nonmonetary ideals such as cultural, educational, religious and public service. Profits/losses are retained/absorbed.
- 2. A business that extracts the earth's natural resources.
- 4. The elements that combine in the production process: land, labour, capital and enterprise.
- 5. A business that is owned and operated by a group of between 2 or more people.
- 6. A business that is owned by shareholders. Anyone can buy shares in the business. Shareholders have limited liability.
- 10. The possibility that the return on investment will be lower than expected.
- 12. A business grows by increasing its output, by increasing its customer base or by developing new product(s).
- 14. The ability to identify business ideas and opportunities to bring them to fruition and to take risks where appropriate.
- 17. A business that provides services to consumers or other businesses.
- 18. Items that are produced from raw materials for sale to businesses or consumers.
- 21. Things that people would like to have; not limited to the things they need to survive.
- 22. A business that uses raw materials to manufacture goods or construct items.
- 23. A business that is owned by shareholders; the shares are not available to the general public. Shareholders have limited liability.
- 27. The human wants that are essential to survival; clothing, food, shelter, warmth or water.
- 28. Those with an interest in the way that a business operates.
- 29. The process of increasing a business’ size.
- 30. The growth of a business by joining with another by merger or takeover.
- 33. An action that is carried out to fulfil a need or demand in return for payment.
- 34. The value that a shareholder is able to get for the money invested in the business: capital gains, dividend payments, pay-outs to shareholders or proceeds from buyback programmes.
- 35. A person who has the vision to use initiative to make business ideas happen, managing the resources and risks.
- 38. A business’ increase in size. Methods include: asset value, employees, market share, markets, profits and sales.