Across
- 5. It occurs when two or more firms in the same economic sector of industry integrate.
- 8. It means that the three sectors of industry depend on each other, and cannot operate independently to produce goods and services.
- 12. They are the economies of scale that arise from the internal organisation of the business e.g. financial, bulk-buying and technical economies of scale.
- 13. It occurs when two or more firms from unrelated areas of business integrate to create a new firm.
- 14. It occurs when two or more firms joint together to form just one firm.
Down
- 1. They are the cost-saving benefits of large-scale operations, which reduce average costs of production.
- 2. It occurs when average costs of production start to increase as the size of a firm increases.
- 3. They are the economies of scale that arise from factor outside of the firm, e,g. The location of the firm, proximity to transport, and the availability of skilled workers.
- 4. It refers to economic activity directly involving the government, such as the provision of state education and healthcare services. The public sector’s main aim is to provide a service.
- 6. It involves a person or business buying a license to trade using another firm’s name, logos, brands and benchmarks.
- 7. It occurs when integration takes place between two firms from different economic sectors of industry.
- 9. It occurs when a firm is taken over by another firm. A takeover may be hostile or the two firms might have agreed to the takeover.
- 10. It occurs when two previously merged firms decide to break up and become two separate firms.
- 11. It refers to economic activity of private individuals and firms. The private sector’s main aim is to earn profit for its owners.