Principle of Business

2. Intangible products.
5. An organization, of any size, that brings together the necessary means of production to create a good or service with the intention of satisfying a demand.
6. This exists when buyer and sellers are able to come together to engage in trade.
8. A primary product such as tin, jute, wool, copper and gold.
9. This means risk taking, and it also refers to a project requiring boldness and initiative.
10. The collective name given to the productive services resulting from human physical effort, skill and intellect.
12. Money that has been built up from past savings.
14. The skill demonstrated by owners and managers of business organizations.
16. Tangible products.
17. This determines the way that money and resources are organized and allocated.

1. The exchange of goods or services.
3. The people who purchase goods and services from producers with the aim of being the final users of such products.
4. The employment of labour to undertake one specific task for which trainning and specialized manchinery is available.
7. This exists when people come together to manage the factors of production in such a way that needs and wants are satisfied.
9. Giving something up in return for something else.
11. The exchange of goods and services.
13. This arises when the total costs of a business in a trading period exceed total sales revenue.
15. The surplus after all costs of a business in a particular trading period have been deducted from total sales revenue.