EC-070
What does a producer do?
What is make things?
How would a business's computer be classified?
What is equipment?
Using a stream to supply water for crops is an example of using ____.
What is natural resources?
What is noneconomic?
When demand is great what happens to price and supply?
What is price and supply increases?
What do service businesses sell?
What is intangible activities?
If a good or service is scarce, consumers are willing to ____.
Resources that enable businesses to operate are also known as?
What is inputs?
Something that is required or essential that is lacking?
What is need?
When demand is low what happens to the price and supply?
What is price and supply decreases?
What are two main divisions of the trade industry are?
What is wholesalers and retailers?
If a good or service is scarce is it one that is _____.
What is in limited supply?
What is limited resource?
What are the three different types of economic resources?
What is natural resources, human resources, and capital goods?
____ prices is a characteristic of a seller's market.
What is high?
A company that transforms cotton into wearable clothing is considered a ____.
What is manufacturer?
What determines whether an economic product is an industrial product or a consumer product?
What is who buys and uses the product?
When producers use the best combination of resources, consumers are more likely to get goods and services that _____.
What is they want?
What are the two different types of wants?
What is economic want and noneconomic want?
Define demand.
What is the quantity of a good or service that consumers are ready to buy at a given price at a particular time?
Retailing takes place when things are ____
What is sold to the ultimate consumer?
Why do marketers classify goods and services?
What can the state of technology that exists in a society limit?
What is natural resources and capital goods?
Define economics.
What is the process of deciding how to get the most with the least, obtaining the greatest satisfaction from the least amount of resources?
Some products are used together. These products would be known as?
What is complementary products?