Intro to Business Unit 1

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Across
  1. 2. Natural resources used in production, like minerals, water, and fertile soil.
  2. 6. A graph showing the relationship between the price of a good and the quantity demanded.
  3. 9. A business structure that offers protection from personal liability, while allowing flexibility in management.
  4. 11. A business owned and operated by one person, with unlimited personal liability.
  5. 15. The human effort used in the creation of goods and services.
  6. 17. Money received, typically for work or investments, over a period of time.
  7. 18. The desire to make money and maximize profits as the driving force behind business activity.
  8. 19. When a business’s expenses exceed its revenues, leading to negative financial results.
  9. 20. A legal entity that is separate from its owners, offering limited liability and the ability to raise capital.
  10. 21. A graph showing the relationship between the price of a good and the quantity supplied.
  11. 22. An organization engaged in commercial, industrial, or professional activities.
  12. 23. An economic system where the government owns or regulates major industries to ensure wealth distribution.
  13. 24. The rivalry among businesses to attract customers and increase market share.
Down
  1. 1. The resources (land, labor, capital, entrepreneurship) used to produce goods and services.
  2. 3. The point where the supply and demand curves intersect, determining the market price and quantity.
  3. 4. A business owned by two or more individuals who share profits, losses, and management responsibilities.
  4. 5. The financial gain from business activities, calculated as revenue minus expenses.
  5. 7. The system of production, distribution, and consumption of goods and services.
  6. 8. Physical products that are produced and sold for consumption or use.
  7. 10. An economic system based on private ownership of the means of production and free market competition.
  8. 12. The process of starting and managing a business, taking on financial risks.
  9. 13. The legal configurations of a business, including sole proprietorship, partnership, LLC, and corporation.
  10. 14. The costs incurred in the process of producing goods or providing services.
  11. 16. Man-made resources (e.g., machinery, tools, buildings) used in production.
  12. 21. Intangible products or actions performed for others, like consulting or repair.