Role of Firms Within An Economy Crossword Puzzle

QUESTIONS LIST:

• factor market : a market in which agents buy or sell land, labour and capital is called a _ _
• risks : companies take _ . they sometimes pay rent in advance, buy raw material, and pay wages and interest on loans etc. that is, they assume the risk of paying in advance for resources they need to carry out activities.
• value chain : the difference between the value of goods produced and cost of the raw materials used to produce them is known as _ _ .
• opportunity cost : the value of the next best alternative forgone is called _ _ .
• schumpeter : _ ´s theory is about the importance of improvements in technology.
• monopoly : a market structure in which there is only seller of good or service is called a _ .
• self regulating : a _ _ system is one wherein if the company deviates from its objectives, a feedback process is initiated to adapt and maintain a balance.
• galbraith : _ ´s theory states that large companies need to include expert professionals.
• scarce : resources are _ thus producers and consumers must make choices about what to produce and consume respectively.
• open system : a system in which firms influence the environment and is influenced by the environment is called an _ _ .
• company : the main function of a _ is to create goods, using a set of productive factors that are coordinated by an entrepreneur.