1.1 Business studies key terms quiz

When a product is no longer suitable for the market and has been replaced it is...

The number of units that customers want- and can afford - to buy is called ....

Business people who take risks and see business opportunities are called....

You are said to be in .............. with another business selling similar products to your business

Businesses funded by government taxes are called the ........... sector

Businesses that sell goods or services to earn a profit are in the ............. sector

Businesses that aim to raise money to fund a cause or help society are called......

Classed as a business risk, this is when the business may collapse and close, it is identified as .............. ..............

Money a business make from sales alone is called.........

Money a business makes when total costs have been taken from sales revenue is called.....