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Business Studies

Across
Industry manufactures goods using the raw materials provided by the primary sector.
Occurs when people and businesses concentrate on what they are best at.
Here exist unlimited wants but limited resources to produce the goods and services to satisfy those wants.
Resources needed to produce goods or services. There are four factors of production and they are in limited supply.
Is a document containing the business objectives and important details about the operations, finance and owners of the new business.
This is the skill and risk-taking ability of the person who brings the other resources or factors of production together to produce a good or service. These people are called entrepreneurs.
This is the finance, machinery and equipment needed for the manufacture of goods.
A good or service which people would like to have, but which is not essential for living. Are unlimited.
Down
We do not have the resources to satisfy all our wants, so the next best alternative that we give up becomes our ___
Is when the production process is split up into different tasks and each worker performs one of these tasks.
Thiis is the number of people available to make products.
Industry provides services to consumers and the other sectors of industry.
The lack of sufficient products to fulfil the total wants of the population.
Is the difference between the selling price of a product and the cost of bought-in materials and components.
Industry extracts and uses the natural resources of Earth to produce raw materials used by other businesses.
A good or service essential for living.
This term is used to cover all of the natural resources provided by nature and includes fields and forests, oil, gas, metals and other mineral resources.