Unit 1

4. Type of integration involving a merger with a business at a different stage of production.
8. This is the difference between the selling price and the cost of the bought-in materials.
9. Government subsidy that does not have to be paid back
10. A business organization owned by two or more people.
13. The primary financial objective for most private sector businesses.
14. External growth method where one business buys out the majority shares of another firm.
15. Stakeholders whose primary objective is low prices and high quality products.
19. The legal status where the owners are personally responsible for all business debts.
20. The acronym for objectives related to ethical, social or environmental concerns, rather than pure profit.

1. An internal stakeholder whose objective is usually a higher salary and greater responsibility.
2. The proportion of total market sales achieved by one business.
3. An owner of a limited company, who receives a part of the profit called a dividend.
5. Expansion method achieved by opening new branches or developing new products.
6. Any individual or group directly affected by the actions of a business.
7. A model where a business licenses its name and operating methods to another person.
11. Type of integration involving a merger with a business at the same stage of production.
12. A business that can sell its shares to the general public on a stock exchange.
16. The simplest form of business ownership, owned and run by one person.
17. The finance, machinery, and equipment needed for a business to operate.
18. The percentage of total sales within a market that is controlled by a single company.