Functions
Utilities
Resources
America's Economy
Other Information
100
What is producing/selling products that satisfy customers?
Planning
100
What does utility add?
Value
100
What are resources?
All things used in production
100
What is independent decisions by businesses known as?
Private Enterprise
100
What is physical development of a country?
Infrastructure
200
What is obtaining objects for use of businesses?
Purchasing
200
What is making or producing products?
Form Utility
200
What is the resource for things on Earth in their natural state?
Land
200
Who are resources owned by?
Producers
200
What is difference between wants, needs, and the resources available for the needs?
Scarcity
300
What is gathering, recording, and analyzing information to aid in making decisions?
Marketing Information Management
300
What is increased usefulness by the product's location?
Place Utility
300
What is the resource for people working in the economy?
Labor
300
Who decides what is purchased?
Consumers
300
What economy has no government involvemnt?
Pure Market Economy
400
What is communicating information about products, services, images, or ideas to customers?
Promotion
400
What is making a product available at the right time of year?
Time Utility
400
What is the resource of money needed for a business?
Capital
400
Who buys the product?
the customer
400
What are graphs showing relationships of price and quantity?
Supply Curve and Demand Curve
500
What is physical movement/transfer of ownership of a good?
Distribution
500
How mant types of Utility are there?
Five
500
What is the technical term economists use for resources?
Factors of Production
500
What is quality of a product? (what they want)
Demand
500
What is the price of product increased, and more will be produced?
Law of Supply
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