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A202
economic goods and services
| Question | Answer |
|---|---|
| Consumer goods and services: | Products produced for personal consumption. |
| Consumers: | People who use goods and services to satisfy their wants |
| Convenience products: | Consumer goods and services purchased quickly and without much thought or effort |
| Economic goods: | Physical objects that are useful, scarce, and transferable and which satisfy economic wants |
| Economic services: | Productive acts that are useful, scarce, and transferable and which satisfy economic wants |
| Economic want: | A desire for something that can only be satisfied by spending money |
| Equipment: | Industrial goods used in the operation of a business but not used in the actual production of a good or 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 and services: | Products purchased by producers for resale, to make other goods and services, and/or to use in business operations |
| Installations: | High-cost, long-lasting industrial goods that are used to produce other goods and services. |
| Market research: | The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market |
| Materials: | Industrial goods that become part of a finished product after they have been processed |
| Noneconomic want: | A desire for something that can be satisfied without spending money |
| Parts: | |
| Producers: | |
| Product: | |
| Raw materials |
Created by:
Fernando Andreydi
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