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Stack #4700508

TermDefinition
person who buys goods and services consumer
organization that provides goods or services to customers in exchange for money business
things we can see or feel goods
work someone does for you services
money left after a business pays it expenses profit
profit=money earned-expenses profit formula
goods and services that people want and need businesses provide
the study of how people make choices when they unlimited wants and needs but limited resources economics
thing people must have to live need
things people would like to have but can live without wants
labor money resources 3 basic resources
things people and business use to meet wants and needs resources
the work people do labor
funds used to buy what is needed money
supplies and items used to make products materials
people can think of almost endless things they want unlimited wants
no person, business, or country has enough resource to get everything it wants limited resources
resources are limited compared with peoples wants and needs scarcity
take care of needs first; use left over resources after simple rule
learning to make smart choices business life skill
better prices, more choices, and better product competition leads to
Created by: MGardella
Popular Business sets

 

 



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