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10 Cards in this Set
- Front
- Back
wants
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things that you do not have to have to survive, but would like to have.
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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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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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