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Entrepreneurship Vocab Crossword
Down
:
1) Business costs that change according to changes in sales volume
2) A market structure in which there are relatively few sellers, and industry leaders usually determine prices
3) Assets of a business
4) The product life cycle stage in which sales peak and then increase at a slower rate or start to decline
6) A type of market structure in which a lot of businesses sell similar products that have only a few differences
8) Promoting a low-priced item to attract customers to whom the business then tries to sell a higher priced item
9) Periods of expansion and contraction in economic activities
10) Economic principle which states that the supply of a good or service will increase when demand is great and decrease when demand is low
13) A category of pricing objectives that focus on profit for the business
18) The product life cycle stage when the product first appears in the marketplace
19) See return on sales
20) All of a business's costs, both fixed and variable
24) A form of demand for products in which changes in price correspond to changes in demand
27) The amount a seller charges the purchaser for a good or a service
32) The difference between the cost of a product and its selling price
33) The expenses involved with manufacturing, promoting, and distributing a product
Across
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5) The particular group of customers a business seeks to attract
7) Goals a company hopes to accomplish through its pricing strategies
11) The movement of funds into and out of a business; determines the amount of cash the business has to work with at any given time
12) An illegal activity in which a business charges different customers different prices for similar amounts and types of products
13) A condition in which a market is controlled by one supplier, and there are no substitute goods or services readily available
14) Actual price that prevails in a market at any particular moment
15) The stages through which goods and services move from the time they are introduced on the market until they are taken off the market
16) The degree of excellence of a good or service—how good it is
17) Fixed costs: Business costs that are not affected by changes in sales volume
21) A category of pricing objectives that focus on increasing total amount of income from sales
22) The product life cycle stage in which sales and profits fall rapidly
23) The income left once all expenses are paid
25) A form of demand in which changes in price do not affect demand
26) A profit-oriented pricing objective in which the business bases the amount of profit it wants to earn on the amount of its capital investment
28) A profit-oriented pricing objective in which the business bases the amount of profit it wants to earn on the amount of its sales; often called target return
29) All of the expenses involved in running a business
30) The particular assortment of goods and services that a business offers in order to meet the needs of its market(s) and its company goals
31) A market structure in which there are many businesses selling a lot of identical products for about the same price to many buyers
32) An organization’s portion of the total industry sales in a specific market
34) A profit-oriented pricing objective intended to give the firm the most possible profit
35) The amount of a firm’s sales, usually expressed in dollars
36) A pricing technique in which consumers are given the price per unit (pound, ounce, etc.) for products
37) Illegal business agreement in which businesses agree on prices of their goods or services, resulting in little choice for the consumer
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