business chapter one
| Description: | Needs and Wants |
| Category: | Marketing |
| Created by: | schreiner on 2009-08-21 |
| Question | Answer |
| What are things that are required in order to live? | Needs |
| What are things that add comfort and pleasure to your life? | Wants |
| Whats are things that you can see and touch? | Goods |
| What are activities that are consumed at the same time they are produced? | Services |
| What means through which goods and services are produced? | Economic Resources |
| What are people producing goods and services? | Human Resources |
| What are raw materials supplied by nature? | Natural Resources |
| What is someone who is a risk taker who uses resources in an entirely new way to create a new product or service? | Entrepreneur |
| What is the products and money used in the production of goods and services? | Capital Resources |
| What means not having enogh resources to satisfy every need? | Scarcity |
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