Across
- 1. (2) where the borrower does not need to have an asset to offer as security, but the interest rate is usually higher
- 6. (2) also known as a concentrated or micro market, a niche market is a narrowly selected target market segment
- 7. the ability to be resourceful and decide, in an independent way, what to do and when to do it
- 9. refers to rivalry among businesses that try to supply the needs and wants of a market
- 10. the clear, shared sense of direction that allows people to achieve a common goal
- 13. items of value
- 14. funds contributed by the business owner(s)
- 17. the ability to cope with the ups and downs, adapt well to change and bounce back from challenges
- 19. (2) where the borrower offers an asset as security for the loan
- 20. the monetary value of a business’s reputation
- 21. (2) when a business owner is personally responsible for all the debts of his or her business
- 22. (2) if the business cannot pay its debts, a shareholder generally loses only the money he or she invested in the business
- 26. money owing to external sources; e.g. a bank
- 27. (2) an incorporated businesses with between two and fifty private shareholders
- 28. (2) a summary of the income earned and the expenses incurred over a period of trading
- 30. refers to the process companies go through to become a separate legal entity from the owner/s
- 31. the debts owed by a business to others
Down
- 2. (3) when businesses consider the interests of stakeholders, society and the environment when making economic and business decisions
- 3. a business owned and operated by between two and twenty people
- 4. (3) this refers to the ability of a business to develop strategies that will ensure it has an ‘edge’ over its competitors for a long period of time
- 5. (2) something an entrepreneur can see as an avenue to success
- 8. (2) a business that is owned and operated by one person
- 9. (3) a detailed examination of the strengths and weaknesses of different alternatives in order to see whether the benefits outweigh the costs
- 11. process whereby a company has become a separate legal entity from its owners (shareholders)
- 12. (2)the group of customers to whom the business intends to sell its products
- 15. a person who sets out to build a successful business in a new field. An entrepreneur’s methods are sometimes regarded as innovative.
- 16. (2) population characteristics that affect customer spending which include: age, ethnicity, gender, marital status, family size and income
- 18. the process of creating a new or significantly improved product, service or process (way of doing something)
- 23. a government levy or revenue measure that can be used as part of the budget to affect the level of prices, the growth rate and the distribution of income
- 24. involves buying the rights from another business to distribute its products under its name
- 25. methods used by a business to inform, persuade and remind customers about its products
- 27. a legal document issued by companies that are offering securities for sale
- 29. (2) collecting and analysing information about customers and the business opportunities available
- 32. the ability of a business to pay its short-term debts on time