Revision

2. This is also known as conglomerate integration.
6. Lack of ... skills can lead to business failure.
9. It occurs when people and business concentrate on what they are good at.
10. These are payments made to shareholders from the profit of the business.
12. ... value is the difference between selling price and cost of materials of a product.
13. It occurs when private individuals buy a public business. It's the opposite of nationalisation.
14. Market ... is the % of the total market sales held by one business.
15. Creative, optimistic, risk taker, are characteristics of good ...

1. ...liability means that the owners don't have to pay the debts of the business with their own possessions.
3. Businesses in the public sector are owned by the...
4. It's a good essential for living.
5. These businesses (as well as sole traders) are unincorporated businesses.
7. It's the lack of sufficient products to fulfil the needs of the population.
8. They have a separate legal identity from their owners.
11. A woodcutter belongs to the ... sector of economy.
13. Public limited companies (PLCs) belong to the ... sector.