The Economic and Business Environment

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Across
  1. 2. a series of events in which a rapid increase in business activity in the economy is followed by a rapid decrease in business
  2. 8. states that the quantity of a good or service demanded varies inversely to price
  3. 9. a relatively mild contraction in the level of economic activity resulting in reduced spending, rising unemployment and a slow
  4. 11. the price that must be paid in order to use someone else’s money
  5. 12. an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
  6. 14. goods and services sold by local businesses to overseas consumers
  7. 15. goods and services purchased by local consumers from overseas businesses
  8. 17. the use of money to purchase equipment or premises for the establishment of a new business or the expansion of an existing business
  9. 20. a general rise in prices across all sectors of the economy, causing money to lose its value
  10. 21. the point at which the demand and supply curves intersect
Down
  1. 1. seeking out the cheapest materials and supplies across national borders as if there were only one large
  2. 3. either adding a new product to an existing product line, or significantly improving an existing product or process
  3. 4. when businesses consider the interests of stakeholders, society and the environment when making economic and business decisions
  4. 5. a severe contraction in the level of economic activity resulting in many business failures, high and sustained level
  5. 6. states that the quantity of a good or service supplied varies directly with price
  6. 7. cycle the cyclical fluctuations in the general level of economic activity
  7. 10. all activities undertaken for the purpose of production, distribution and consumption of goods and services in a region or country
  8. 13. the interaction of the forces of demand and supply that determines the price of a good or service
  9. 16. the process that sees people, goods, money and ideas moving around the world faster and more cheaply than before
  10. 18. the buying and selling of labour
  11. 19. the swapping or exchanging of one good for another