Economics
a science that examines how goods and services are produced, sold, and used.
what is economics?
the four functions of business are
what are goods, service, costumer, and consumer?
an activity related to making a product
what is production?
Business profits are ____by local, state, and federal governments.
what is taxed?
all the activities involved in developing and exchanging products are
what is production?
Controlling and making decisions
about a business
what is management?
the difference between the income earned and expenses incurred by a business during a specific period of time.
what is profit?
anything that can be bought or sold is
what is product?
Activities that identify, anticipate, and satisfy customer demand while making a profit.
what is marketing?
a level of material comfort measured by the goods, services, and luxuries available
what is standard of living?
a good is
what is a physical item that can be touched?
finance is
what is activities involving money?
All economic resources are
what is limited?
service is
what is an action or task that is performed?
the main reason a business operates
what is profit?