Business and Society
The business that doesn't modify or change products, they simply move goods from producers to customers.
What is trade industries?
The desire for something that may or may not be required.
What is a want?
The resource weather conditions effect.
What is natural resources?
The ultimate goal of all economic activity.
What is consumption?
The quantity of a good or service that consumers are ready to buy at a given price at a particular time.
What is Demand?
The thing sold by service businesses.
What is intangible activities(services)?
The classification of a business's computers.
What is equipment?
Resources that enable businesses to operate.
What is inputs?
The basis of the study of economics.
What is people and choices?
The quantity of a good or service that producers are able and willing to offer for sale at a specified price in a given period of time.
What is supply?
A company that transforms cotton into wearable clothing.
What is a manufacturer?
The effect on consumers when goods and services are scarce.
What is the demand goes up?
Often referred to as factors of production.
What is natural resources, human resources, and capital goods?
Desires for items that can only be obtained by spending money.
The type of demand when, the demand for a good or service is constant regardless of its price.
What is inelastic demand?
The three broad categories that cover all types of businesses.
What is producers, trade industries, and service businesses?
Another name for economic "votes".
What is a consumer making a purchase?
The type of resource that is limited.
What is natural resources?
The process of trading one good/service for another.
What is exchange?
Products that are used together.
What is complementary products?
A socially responsible business will attempt to give this to customers.
What is the best products at the best price?
Any item purchased as a result of an on‑the‑spot decision.
What is impulse product?
Required in the production of all goods and services.
What is human resources?
Deciding which goods and services lead to the most satisfaction.
What is economizing?
The point at which quantity supplied is equal to quantity demanded.
What is equalibrium?