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business essentials

consumer good and services products produced for personal consumption
consumers people who use goods and service to satisfy their wants
convenience products consumer good and service purchased quickly and without much thought or effort
economic goods physical objects that are useful scarce and transferable and which satisfy economic wants
economic service productive act that are useful scarce and transferable
economic wants a desire for something that can only be satisfied by spending money
equipment industrial good used in the operation of the a business but not used in actual production of a good service
goods tangible objects that can be manufactured or produced for resale
impulse item any item purchased as a result of an on-the-spot decision to buy
industrial goods services products purchased by producers for resale to make other good and service and/or to use in business operations
installations high cost long lasting industrial good that are used to produce other good and service
market research the systematic gathering recording and analyzing of data about a specific issue situation or concern that affect a market
material industrial goods that becomes part of a finished product after they have been processed
noneconomic want a desire for something that can be satisfied without spending money
parts industrial good that become part of a finished product without any additional processing
producers the people who makes or provide good and service
product a good or service that a company sell to customer
raw material item in their natural state or condition
scarce limited
service intangible activities that are performed by other people for money productive act that satisfy economic wants
shopping products consumer good and services purchased after customer compare products to get the best quality price and /or service
specialty product consumer good and service with special or unique characteristics that customer are wiling to exert special efforts to obtain
staple item a frequently purchased item that business keep on hand continuously because the demand
supplies industrial good that are constantly tasted seen
tangible capable of being touched smelled
ultimate consumer anyone who personally uses a good or service
unsought products consumer good and service bought out of necessity
want a desire for something that may or may not be required
Created by: jayr.074
Popular Business sets




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