Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Banana's Economics

Goods And Services

QuestionAnswer
Goods They are tangible, physical products that can be bought, sold, or traded. They include items like clothing, electronics, and food.
Services They are intangible actions or work performed for consumers or businesses. Examples include consulting, healthcare, and transportation.
Needs They are the basic requirements for human survival and well-being. These include essentials like food, shelter, and clothing.
Wants They are desires or preferences for goods and services that go beyond basic needs. They are not essential for survival but contribute to a higher quality of life.
Redress It refers to the compensation, resolution, or correction provided to consumers when they experience problems with a product or service. It aims to make the consumer whole again.
Refund It is a monetary reimbursement provided to a customer when they return a purchased item or experience dissatisfaction with a product or service.
Receipt It is a written or electronic document that serves as proof of a financial transaction. It includes details such as the items purchased, their prices, and the date of the transaction.
Consumer Rights They are legal entitlements and protections granted to consumers to ensure fair treatment in the marketplace. They include the right to safety, the right to information, the right to choose, the right to be heard, and the right to redress.
Consumer Responsibilities It is the ethical and practical duties expected of consumers in the marketplace. These include understanding product information, making informed choices, and using products and services responsibly.
Difference Between Wants and Needs They are what you must have to live well, like food and a home. Wants are things you'd like but aren't necessary, like fancy stuff or fun activities.
Created by: banana.
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards