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business

TermDefinition
a person who buys goods and services consumer
an organization or activity that provides goods or services to customers in exchange for money business
products you can see and touch goods
work somebody does for you services
money a business gets after paying their expenses profit
profit = money earned - expenses profit formula
goods or services that people want or need businesses provide
the study of how people make choices when they have unlimited wants and needs but limited resources economics
things people must have to live or function needs
things people would like to have but can live without wants
things people and businesses use to meet wants and needs resources
funds used to buy what is needed money
the work people do labor
supply's and 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 needs first; then use the resources left over for wants simple rule
making smart choices with limited resources is an important business and life skill business life skill
better prices, more choices, and a better product competition leads to
Created by: esuarez
 

 



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