Across
- 2. the process of increasing the worth of a product or service by improving it or enhancing its appeal to customers, so that the final selling price exceeds the cost of inputs.
- 4. the business function concerned with managing people—recruiting, training, motivating, and maintaining an effective workforce.
- 5. the business function responsible for managing money, recording transactions, and analyzing financial information to support decision-making.
- 7. the function that converts raw materials and resources into finished goods or services efficiently and effectively.
- 9. desires for goods and services that are not essential for survival but improve quality of life.
- 10. the part of the economy that provides services to consumers and businesses rather than producing goods.
- 13. the basic requirements essential for human survival, such as food, water, clothing, and shelter.
- 14. people who take the initiative to set up, organize and manage a business, assuming the financial risks in the hope of earning a profit.
- 15. an organization that produces goods and/or provides services to satisfy customer needs and wants, usually with the aim of making a profit.
- 16. the part of the economy concerned with manufacturing and construction—transforming raw materials into finished products.
- 17. the part of the economy involved in extracting natural resources, such as farming, fishing, mining, or forestry.
- 19. intangible activities that provide value to customers, such as education, banking, or transport.
- 20. the process of combining inputs or resources to create goods or services that have value.
- 21. physical and tangible products that can be seen, touched, and stored, such as clothing, cars, or computers.
Down
- 1. the difference between the selling price of a product and the cost of the materials and components used to produce it.
- 3. individuals or organizations that buy goods or services from a business; they may or may not be the end users.
- 6. the process of identifying and meeting customer needs profitably through market research, product design, pricing, promotion, and distribution.
- 8. the part of the economy focused on knowledge-based activities like research, information technology, and consultancy.
- 11. the resources required to produce goods and services—typically land, labour, capital and enterprise.
- 12. the process of starting and running a new business venture, involving creativity, risk-taking, and decision-making to exploit business opportunities.
- 18. individuals or groups who use goods and services to satisfy their needs and wants.