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Stack #4700542

QuestionAnswer
person who buys goods or services consumer
an organization or activity that provides goods or services to consumers in exchange for money business
products you can see and physically touch goods
work or activity a business performs for a customer services
a person who buys a good or a service consumer
money left after business pays expenses profit
profit + money from sales - expenses profit formula
goods and services that people want and need businesses provided
the student of how economics
things people need 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 recources
funds used to buy what is needed money
the work people do labor
supplies and items used to make products materials
people an think of endless things they want and need unlimited wants
no person, business, or country has enough resources to get everything it wants limited recources
resources are limited compared with peoples wants and needs scarcity
take care of needs first; then use resources left over for wants simple rule
learning to make smart choices with limited recources business life skill
better prices, more choices, and better product competition leads to
Created by: 31jflores
 

 



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