Across
- 4. the basic economic problem where there are unlimited wants and limited resources
- 7. when a business takes over or merges with another business
- 10. a person who organizes, operates and takes risks for a new business venture
- 12. this consist of all the services provided in an economy (hotels, travel agencies, hair salons, banks)
- 13. a company typically in the early stages of its development
- 16. a document containing the business objectives and important details about the operations, finance and owners of the new business
- 19. One or more owners who can sell its’ shares to only the people known by the existing shareholders
- 23. They purchase and consume the goods and services that the business produces/ provides
- 24. where private individuals own and run business ventures
- 25. any person or group that is interested in or directly affected by the performance or activities of a business
- 26. These companies can sell shares, unlike partnerships and sole traders, to raise capital
- 28. where the government owns and runs business ventures
- 29. the next best alternative forgone by choosing another item
- 30. they are also employees but control the work of others
- 31. A business organization owned and controlled by one person
Down
- 1. where extra tasks of similar level of work are added to a worker’s job description
- 2. this can be defined as the proportion of total market sales achieved by one business
- 3. resources required to produce goods or services and are classified into four categories
- 5. the aims and targets that a business works towards to help it run successfully
- 6. a good or service essential for living. Examples include water and food and shelter
- 8. this involves the manufacture of goods using the resources from the primary sector (auto-mobile manufacturing, steel industries, cloth production)
- 9. the enjoyment derived from the feeling that you’ve done a good job
- 11. when a business expands its existing operations
- 14. a legal agreement between two or more people to own, finance and run a business jointly and to share all profits
- 15. types of motivators such as wages, salaries, commissions, etc.
- 17. the reason why employees want to work hard and work effectively for the business
- 18. types of motivators such as free healthcare, children’s education fees paid for, company vehicle, etc.
- 20. Two or more owners who can sell its’ shares to any individual/organization in the general public through stock exchanges
- 21. involves workers swapping around jobs and doing each specific task for only a limited time and then changing round again
- 22. this involves the use/extraction of natural resources (agricultural activities, mining, fishing, wood-cutting, oil drilling)
- 27. a good or service that people would like to have, but is not required for living