vocab
scarcity
Is the situation in which consumers’ wants are always greater than the resources available to satisfy those wants.
example of scarcity
limited items
Yes
supply
make (something needed or wanted) available to someone; provide.
example of supply
back stock at a clothing company
Is gambling a smart finical descision.
No
customer choice
the decisions individuals make when selecting products or services based on their preferences, needs, and budgets
shopper wanting a specific item like someone wanting a iphone over a driod
How could a company improve customer choice.
Marketing, quality of the product.
resource allocation
the strategic process of distributing finite resources, such as personnel, budget, equipment, and materials, to tasks and projects to achieve specific goals
example of resource allocation
assigning team members to a specific project
Does Chino high school have resource allocation.
Yes, teachers principals etc
Study of how people seeks to satisfy
their needs and wants by making choices
example of economics
this class
Is economics are integral part of this world.
Yes