Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
What are wants?
|
things that you do not have to have in order to survive
|
|
|
What are needs?
|
things that you must have in order to survive
|
|
|
What are goods?
|
physical products
|
|
|
What are services?
|
tasks that businesses perform for consumers
|
|
|
What are resources?
|
items that people can use to make or obtain what they need or want
|
|
|
What is a business?
|
is any commercial activity that seeks profit by providing goods and services to others in exchange for money
|
|
|
What is a profit?
|
the money left over after a business has paid the cost of providing its goods and services
|
|
|
What is competition?
|
the contest between businesses to win customers
|
|
|
What is market research?
|
the act of gathering and analyzing information about the wants, needs, and preferences of consumers in a certain market
|
|
|
What is a consumer?
|
a person who uses goods or services
|
