IB Business Unit 1

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Across
  1. 2. – Man-made goods used in production
  2. 4. OF SCALE – Lower average costs due to higher output
  3. 5. – Business and owner are the same legal entity
  4. 6. – A person who sets up a business and takes financial risk
  5. 9. OBJECTIVES – Long-term targets of a business
  6. 10. – Business owned by 2–20 people
  7. 12. – Corporate Social Responsibility
  8. 14. LIABILITY – Owners only lose what they invest in the business
  9. 15. – Human input into the production process
  10. 16. – When two firms combine into one business
Down
  1. 1. – Anyone with a direct interest in a business
  2. 3. – Shareholders and business are separate legal entities
  3. 7. OBJECTIVES – Short-term measurable business targets
  4. 8. – Right to use another business’s brand name
  5. 11. TRADER – A business owned by one person
  6. 13. VALUE – Difference between cost of production and selling price