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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 produced for personal consumption
consumers people who use goods and services to satisfy their wants
consumption The process or activity of using goods and services; the economic process or activity of using goods and services.
convenience products Consumer goods and services purchased quickly and without much thought or effort.
demand The quantity of a good or service that buyers are ready to buy at a given price at a given time.
distribution
economic goods
economic resources
economic services
economic want
economics
elastic demand
elastic demand
elasticity
equilibrium
equipment
excess demand
excess supply
exchange
factors of production
goods
human resources
impulse item
industrial goods and services
inelastic demand
instillations
law of demand
law of supply and demand
law of supply
market research
materiails
noneconomic want
parts
producer
product
raw materials
scarce
services
shopping products
specialty products
staple items
supplies
tangible
ultimate consumer
unsought products
want
Created by: user-2015051
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