EC-070
Makes raw goods
What is raw goods producer?
Desires for things that may not be required
What is want?
resources in nature to create goods and services
What is Natural Resources?
Anyone who uses goods and services
What is Consumer
Desire for good or service
Buying power
Willingness
What is Conditions for Demand?
Performs Intangible services
What is service businesses
can be satisfied without spending money
what is non-economic want?
People who work physically/mentally to produce goods and services
What is Human Resources?
What is Characteristics of wants
Quantity of a good or service
What is Supply?
Sells items in bulk
What is Wholesalers?
Must be physical and useful
What is Economic Good?
Manufactured or Constructed items to produce goods and service
What is Capital goods
Finite Supply
What is Natural Resources
When demand is low
prices decrease
supply decrease
What is Law of supply and Demand
Morally questionable decisions
What is Gray Zone?
communicates by purchasing
What is Consumer?
Economic resources are also known as this
What is Factors of Production
Willingness to work, non enough in a profession
What is limited Human resources
Large supply
Small Demand
Lower prices
What is Buyers Market
Businesses maximizing profits
What is Businesses social responsibility
Purchased for resale
what is industrial good and services?
What is Financial Capital?
What is lost when you chose to use scarce resources for something else
What is Opportunity cost
Small supply
Large demand
Higher prices
What is sellers market