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Stack #4700723

QuestionAnswer
buys and uses services consumer
provides goods or services in exchange for money business
products you can see and touch goods
work someone does for you services
money after expences profit
profit=money earned - expenses profit formula
goods and 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
producing, selling, buying , or exchanging goods or 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 and 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
take care of needs first then left over resources can be used for wants simple rule
making smart choices with limited resources is an important business and life skill life skill
resources are little compared with peoples wants and needs scarcity
Created by: 31oliverbales
 

 



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