EC-070
Producers provide goods in their natural, or raw, states.
What is raw producer.
disire for a good or service that we don't require
what is want
tems that can be used to produce goods and services.
what is economic recources
meet unlimited,competing wants with limited resources
what Is economics
quantity of a good or service that producers are able and willing to offer for sale
what is supply
change the shapes or forms of materials so that they will be useful to consumers.
What is manufacturers.
wants that can be satisfied by not spending money
what is noneconomic want
Any resource that is found in nature and used to produce goods and services
what is natural recource
unlimited
changing
competing
what is characteristics of wants
what is demand
businesses that buy and sell goods to others.
What is Trade industries.
Consumers communicate their wants to producers as they purchase or fail to purchase goods and services
what is "vote"
limited recource
Natural resources
Human resources
Capital goods
what is economic recources
When the quantity demanded is much greater than the quantity supplied, prices are higher
what is sellers market
sells to other businesses.
what is wholesalers.
Companies devote a great deal of time and money to finding out exactly what consumers want
what is market research
want that is limited
limited want
economic process or activity of producing goods and services for consumption
what is production
the quantity of a good or service that will be offered for sale varies in direct relation to its selling price
law of supply
Perform intangible activities that satisfy the needs and wants of consumers.
what is service business.
The “things” that people buy to satisfy their economic wants
what is Economic goods and services
somthing yo desire that you have to pay for
economic want
people who make the goods and services
producers
rice of a product is low because there is a large supply and a small demand.
what is buyers market.