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UNit 5
Basic Skills of Marketing
Term | Definition |
---|---|
Business License | permission from the government to run a business |
Resources | the supplies needed to produce a good or service |
Budget | a plan for spending and saving money |
Entrepreneur | a person who starts a business |
Good | A product that is made to sell to consumers |
Supply | the amount of a product that is made |
Income | money that is earned |
Demand | the number of people who want to purchase a product |
Service | a job that is done by a producer for a consumer |
Producer | someone who provides a good or service for someone else |
Consumer | someone who buys a good or a service |