Unit 1

4. The finance, machinery, and equipment needed for a business to operate.
6. An internal stakeholder whose objective is usually a higher salary and greater responsibility.
8. Cost disadvantages experienced by a business as it becomes too large.
9. External growth method where one business buys out the majority shares of another firm.
10. Type of integration involving a merger with a business at the same stage of production.
12. This is the difference between the selling price and the cost of the bought-in materials.
14. The percentage of total sales within a market that is controlled by a single company.
15. Objectives related to ethical or environmental concerns, rather than pure profit.
16. Stakeholders whose primary objective is low prices and high quality products.
17. The primary financial objective for most private sector businesses.
18. A business that can sell its shares to the general public on a stock exchange.
19. The legal status where the owners are personally responsible for all business debts.
20. An owner of a limited company, who receives a part of the profit called a dividend.

1. The simplest form of business ownership, owned and run by one person.
2. Any individual or group directly affected by the actions of a business.
3. Type of integration involving a merger with a business at a different stage of production.
5. Expansion method achieved by opening new branches or developing new products.
7. The protection of personal assets from business debts.
11. A business organization owned by two or more people.
13. A model where a business licenses its name and operating methods to another person.