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10 Cards in this Set
- Front
- Back
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Want
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Something you desire but do not have to have in order to survive.
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Needs
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things that you must have in order to survive
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Goods
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physical products
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Services
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tasks that businesses perform for consumers
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Resources
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items that people can use to make or obtain what they need or want
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Business
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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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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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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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a person who uses goods or services
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