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5 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What is a consumer? |
A person or organisation that directly uses a good or a service |
Consumers consume goods and services so ... |
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What is a producer? |
A person, company or country that makes, grows or supplies goods and/or services. |
Producing is making... |
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What is a government? |
A political authority that decides how a country is run and manages its operation. |
A government runs a country... |
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What is a good and what is a service? |
A good is a tangible product. A service is an intangible product. |
Can it be touched and seen or not? |
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What is production? |
The total output of goods and services produced by a firm or industry in a time period. |
How much is made in how long... |
