Across
- 2. when the owners of two businesses agree to join their businesses together to make one business.
- 3. a document containing the business objectives and important details about the operations, finance and owners of the new business.
- 7. value is the difference between the selling price of a product
- 8. of Earth to produce raw materials used by other businesses.
- 14. are the aims or targets that a business works towards.
- 15. occurs when there is a decline in the importance of the secondary, manufacturing sector of industry in a country.
- 21. is a good or service essential for living.
- 22. the percentage of total market sales held by one brand or business.
- 26. ___ integration is when one business merges with or takes over another one in the same industry but at a different stage of production. Vertical integration can be forward or backward.
- 27. are payments made to shareholders from the profits (after tax) of a company. They are the return to shareholders for investing in the company.
- 29. is the lack of sufficient products to fulfil the total wants of the population.
- 33. is any person or group with a direct interest in the
- 34. is when the production process is split up into different tasks and each worker performs one of these tasks. It is a form of specialisation.
- 37. is a form of business in which two or more people agree to jointly own a business.
- 39. when one business buys out the owners of another business, which then becomes part of the 'predator’ business (the business which has taken it over).
- 40. the cost of bought-in materials and components.
- 42. for a new business venture.
- 43. is a business owned by one person.
- 44. business type that does not have a separate legal identity. Sole traders and partnerships are unincorporated businesses.
- 45. an economy that has both a private sector and a public (state) sector.
- 47. a business based upon the use of the brand names, promotional logos and trading methods of an existing successful business. The franchisee buys the licence to operate this business
- 48. where two or more businesses start a new project together, sharing capital, risks and profits.
- 49. and activities of a business.
- 51. is a legal requirement for all companies. Shareholders may attend and vote on who they want to be on the Board of Directors for the coming year.
- 52. means that the owners of a business can be held responsible for the debts of the business they own. Their liability is not limited to the investment they made in the business.
Down
- 1. sector of industry extracts and uses the natural
- 4. are the owners of a limited company. They buy shares which represent part-ownership of the company.
- 5. is the written and legal agreement between business partners. It is not essential for partners to have such an agreement but it is always recommended.
- 6. sector of industry manufactures goods using the raw materials provided by the primary sector.
- 9. a business in the public sector that is owned
- 10. _____ limited companies are businesses owned by shareholders but they can sell shares to the public and their shares are tradeable on the Stock Exchange.
- 11. combine factors of production to make products (goods and services) which satisfy people’s wants.
- 12. sector of industry provides services to consumers and the other sectors of industry.
- 13. business type that have separate legal status from their owners.
- 16. ___ integration is when one business merges with or takes over another one in the same industry at the same stage of production.
- 17. means that the liability of shareholders in a company is limited to only the amount they invested.
- 18. growth caused when a business takes over or merges with another business. It is often called integration as one business is integrated into another one.
- 19. occurs when people and businesses concentrate on what they are best at.
- 20. is a person who organises, operates and takes the
- 23. there exist unlimited wants but limited resources to produce the goods and services to satisfy those wants. This creates scarcity.
- 24. employed, the total value of capital used in the business.
- 25. ___ integration is when one business merges with or takes over a business in a completely different industry.
- 28. is a good or service which people would like to have, but which is not essential for living. It is unlimited.
- 30. are those resources needed to produce goods or services. There are four factors of production and they are in limited supply.
- 31. total income of a business (revenue) less total costs.
- 32. has social objectives as well as an aim to make a profit to reinvest ba,ck into the business.
- 35. is the next best alternative given up by choosing another item.
- 36. growth caused when a business expands its existing operations.
- 38. controlled by the state (government).
- 41. ______ limited companies are businesses owned by shareholders but they cannot sell shares to the public.
- 46. is the money invested into a business by the owners.
- 50. the franchisor.