Across
- 6. The quantity of a good or service that buyers are ready to buy at a given price at a particular time
- 8. A marketing function that involves determining and adjusting prices to maximize return and meet customers’ perceptions of value
- 10. Accomplishing a task with a minimum expenditure of time and effort
- 12. Money left after the cost of goods is subtracted from total income
- 14. An economic system in which individuals and groups, rather than the government, own or control the means of production; also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system
- 16. Money left after the cost of goods and operating expenses are subtracted from the total income
- 17. The amount of money a business pays for the products (or for any part of the products) it sells or for the raw materials from which it produces goods to sell
- 18. The money that a business spends
Down
- 1. Vendors; businesses from which other businesses buy goods or services
- 2. Any item that is used to accomplish another activity, such as producing/providing goods and services
- 3. Monies that individuals or businesses must pay to the government
- 4. Individuals or businesses to whom a business owes money or from whom it wants to borrow money
- 5. The money received by resource owners and by producers for supplying goods and services to consumers
- 7. Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid
- 9. The system in which people make and spend their incomes
- 11. All of the expenses involved in running a business that are not directly related to production
- 13. The possibility of loss or failure
- 15. The desire to make a profit, which moves people to invest in business