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Created by: JudyF Created on: 22-01-18 09:36
Across
1. 56a When employees form a series of links between customers and suppliers in business, both internally and externally. (7, 6) 4. A source of finance from government or a charity that sometimes does not need to be repaid. There can be a lot of 'red tape' to apply for these. This is a form of external finance. (5) 7. 38a Makes more use of staff than machinery in production. This will often depend on the nature of the product and is seen in business such as the postal service and landscape gardening companies. (6, 9) 8. Producing a level of output where average cost is minimised. This can therefore maximise profit. (10) 9. When a business rents resources such as property or equipment for a set period of time. This is a form of external finance. (7) 10. The cost of raw materials or stock purchased to produce a product. Calculated by opening stock + purchases - closing stock. (4, 2, 5)
Down
2. Ordering stock for delivery just as it is needed. This will keep storage costs to a minimum but needs reliable suppliers. (4, 2, 4) 3. The flow of money into and out of a business over a period of time. Working capital = Inflows - Outflows. (4, 4) 5. A method of production that involves employing all factors to complete one product at a time, often handled by one person or a small group of people. E.g. hairdressers, graphic designers. (3, 10) 6. A system of budgeting where no money is allocated for costs unless they have been justified by the fund holder. (4, 5, 9)
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