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2.02 Economic Goods

Objective 2.02

TermDefinition
Capital goods Manufactured or constructed items that are used in the production of goods and services
Consumer goods and services products used for personal consumption
Consumers people who use goods and services to satisfy their wants
Consumpsion the process or activity of using goods and services: the economic process or activity of usimg goods and services
Convenience products consumer goods and services puchased quickly and without much thought
Demand the quanity of a good or seivice that buyers are ready to buy at a given price at a particular time
Distribution the economic process or activity by which income is divided among resource owners and producers
Created by: user-2015094
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