test - Crossword Labs

3. business that has a separate legal identity from that of its owners
6. business organisations that have a separate legal identity from that of their owners
9. process of a company 'going public’
12. where there is no legal difference between the owner and the business
13. resources used or owned by a business, such as cash, stock, machinery, tools and equipment
14. the activity of starting and running businesses
15. share of the profit paid to shareholders in a company
16. costs that do not vary with the level of output
17. value of one currency in terms of another

1. growing integration of the world’s economies
2. transfer of public sector resources to the private sector
4. owner of a business is personally liable for all business debts
5. making enough profit to satisfy the needs of the business owner(s)
7. structure in which a business (the franchisor) allows another operator (the franchisee) to trade under their name
8. market where it is more efﬁcient to have just one organisation meeting total market demand
10. areas of land that were once used for urban development
11. physical products, such as a mobile phone, a packet of crisps or a pair of shoes
18. flow of money into and out of a business