Running a Business

4. the income earned by a business
7. the monetary value of a business’s reputation
8. a legal structure of a business owned and operated by 2–20 people
10. _ _ _ _ _ _ _ _ _ _ _ factors are population characteristics that affect customer spending and include age, ethnicity, gender, marital status, family size and income.
11. _ _ _ _ management is the process of identifying and minimising the risks faced by a business
12. _ _ _ _ _ _ research is collecting and analysing information about customers and the business opportunities available
15. _ _ _ _ _ _ equity is the value of the business to the owner(s)
16. _ _ _ _ _ _ market the group of customers to whom the business intends to sell its products

1. methods used by a business to inform, persuade and remind customers about its products
2. A _ _ _ _ _ market is a very small segment of the total market
3. when the company has become a separate legal entity from its owners (shareholders)
5. the debts owed by a business to others
6. the rights from a manufacturer to distribute its products under its name
9. the costs incurred in running a business
13. items of value owned by a business
14. _ _ _ _ trader a business owned and operated by one person