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60 Cards in this Set

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Who is a consumer?
A consumer is a person, group or institution that uses goods and or services.
Name some basic needs?
food, shelter and clothing
Name some other important needs.
transportation, communication, education and training
What differs from one person to another?
needs
What are needs?
Needs are items that we cannot do without
What are wants?
Wants are things that we desire that can make life easier and more pleasant but which we can live without
What are resources?
These are the certain things eg, money, that aids in getting our wants and our needs
Give examples of goods.
clothing, jewellery, food items, machines, vehicles toys etc.
Name the two types of goods.
producer or secondary goods
consumer or primary gooda
What are producer goods?
Commodities which are needed to assist in the production of other goods.
Give examples of secondary goods.
sewing machines, raw materials, tools, machines
What are consumer goods?
items that we purchase for use
Give examples of consumer goods.
food, clothing, houses
Name the three types consumers.
consumers of goods
consumers of services
consumers of credit
What is the basis of all goods and services?
money
Who is a consumer?
A consumer is a person, group or institution that uses goods and or services.
Name some basic needs?
food, shelter and clothing
Name some other important needs.
transportation, communication, education and training
What differs from one person to another?
needs
What are needs?
Needs are items that we cannot do without
What are wants?
Wants are things that we desire that can make life easier and more pleasant but which we can live without
What are resources?
These are the certain things eg, money, that aids in getting our wants and our needs
Give examples of goods.
clothing, jewellery, food items, machines, vehicles toys etc.
Name the two types of goods.
producer or secondary goods
consumer or primary gooda
What are producer goods?
Commodities which are needed to assist in the production of other goods.
Give examples of secondary goods.
sewing machines, raw materials, tools, machines
What are consumer goods?
items that we purchase for use
Give examples of consumer goods.
food, clothing, houses
Name the three types consumers.
consumers of goods
consumers of services
consumers of credit
What is the basis of all goods and services?
money
Who is a consumer?
A consumer is a person, group or institution that uses goods and or services.
Name some basic needs?
food, shelter and clothing
Name some other important needs.
transportation, communication, education and training
What differs from one person to another?
needs
What are needs?
Needs are items that we cannot do without
What are wants?
Wants are things that we desire that can make life easier and more pleasant but which we can live without
What are resources?
These are the certain things eg, money, that aids in getting our wants and our needs
Give examples of goods.
clothing, jewellery, food items, machines, vehicles toys etc.
Name the two types of goods.
producer or secondary goods
consumer or primary gooda
What are producer goods?
Commodities which are needed to assist in the production of other goods.
Give examples of secondary goods.
sewing machines, raw materials, tools, machines
What are consumer goods?
items that we purchase for use
Give examples of consumer goods.
food, clothing, houses
Name the three types consumers.
consumers of goods
consumers of services
consumers of credit
What is the basis of all goods and services?
money
What are goods?
Items fought to satisfy our own need and wants
Who are consumers of goods?
Those who have needs and wants which they cater for by buying goods.
Who are consumers of services?
Those who get services that they feel are essential to their everyday lives.
What is a service?
An act rendered by one person or a group to another
Give examples of services.
teaching, dental service, banking, repairing tv's and other electronics etc.
What are the 3 similarities with goods and services?
They are both sold for a price
They are scarce in realtio9n to wants. This means that we want far more goods and services than we able to buy
They possess utility. This means that they are useful to the people who buy them.
Give a difference between goods and services.
goods are tangible
services are intangible
Why does the user of a service receive something by the provider?
As proof that the service had been provided
What can this "something" be?
a bill, ,a ticket, a policy agreement, a bank statement, or graded assignment
What are the different links in distribution chains?
the producer, the wholeesaler, the retailer, and then the consumer
Who is the producer?
Those who actually make the goods
Give some examples of producers.
farmers, manufacturers, fishermen
Who is the wholesaler?
Those who sell in bulk amounts
Name some examples of wholesalers.
wholesalers and merchants
Who is a retailer?
Those who sell in single amounts