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Stack #4700547

QuestionAnswer
A person who buys goods or services. Consumers
An organization that provides goods or services people purchase. Business
Products you can touch. Goods
Work someone does for you. Services
Money left after expenses are paid. Profit
Sales Money - Expenses = Profit Formula
businesses provide Goods and services people value.
Competition can lead to Better products, more choices, new Ideas/innovations, better prices.
The study of how people make choices when they have unlimited wants and needs but limited resources. Economics
Producing, selling, buying, or exchanging goods and services. Economic activity
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 or needs. Resources
Funds used to buy what is needed. Money
The work people do. Labor
Supplies 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.
Created by: JWinchester
 

 



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