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Stack #4700330

QuestionAnswer
A person who buys goods and services. Consumer
Organization that provides goods or service to customers in exchange for money. Business
Products you can see and touch. Goods
Work someone does for the consumer. Services
Money left a business pays its expenses . Profit
The study of . Economics
Thing people must have to live or function. Needs
Things people would like to have but can live without . Wants
Thing people in businesses use to meet wants and needs. Resources
Funds used to buy what is needed . Money
The work people do. Labor
Supplies and items items used to make products. Materials
People can think of almost endless things they want or need . unlimited wants
No person, business, or country has enough resources to get everything it wants. . limited resources
Resources are limited compared with peoples wants and needs . scarcity
Take care of neds first: then use resources left for wants . simple rule
learning to make smart choices with limited resources . Business life skill
better prices, more choices, and better product.
Created by: Diego sapien
 

 



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