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10 Cards in this Set
- Front
- Back
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Wants
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Are things that you do not have4 to have to survive, but would like to have.
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Needs
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Are things that you must have in order to survive.
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Goods
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Are physical products.
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Services
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Are tasks that people or machines do.
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Resources
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Are items that people can use to make or obtain what they need or want.
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Business
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Is any commercial activity that seeks profit by providing goods and services to others in exchange for money.
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Profit
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Is the money left over after a business has paid the cost of providing its goods and services.
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Competition
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The contest between businesses to win customers.
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Market research
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Is the act of gathering and analyzing information about the wants, needs, and preferences of consumers in a certain market.
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Consumer
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Is a person who uses goods or services.
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