Unit 1

1. The sector of industry that extracts and produces raw materials, e.g. farming.
3. A factor of production - where a business is located and natural resources used.
11. When a LTD becomes a PLC and sells shares on the stock market.
12. A factor of production - the skills of entrepreneurs who create businesses.
15. A type of company whose shares cannot be bought on the stock market.
16. The owners of a PLC or LTD businesses.
19. A surplus of revenue over costs.
21. A business that tries to help society rather than make a profit.
24. A shareholders portion of company profits.
25. When personal possessions of an entrepreneur can be sold to pay business debts.
27. Non-essential items that we would like but can survive without.
30. The functional area responsible for hiring, motivating and training staff.
32. Someone who uses a good or service.
33. A business owned and controlled by one person.
34. An intangible product.

1. When two or more people join own and run a business.
2. A limited liability company whose shares can be bought the stock market.
4. A specific target for a business to achieve.
5. The functional area responsible for managing company money.
6. The inputs that businesses use to provide their goods or services.
7. A factor of production - the number and skills of business employees.
8. The cost of the next best alternative foregone up when a decision is made.
9. A factor of production – Equipment and machinery used in production.
10. The functional area responsible for raising awareness and encouraging sales.
13. The sector of industry that provides service, e.g. marketing, banking or law.
14. A legal agreement between partners.
17. The functional area responsible for manufacture.
18. The cost of borrowing or reward for saving money.
20. The sector of industry that makes products, e.g. construction.
22. A general rise in prices in an economy.
23. Someone willing to take risks to start a business.
26. Someone who buys a product or service.
28. Anyone interested in or affected by what a business does.
29. A stakeholder whose objective is good pay, good working conditions and job security.
31. A physical product.