Principles of Business and Marketing Vocab

Front

Things you wish you could have

Back

Wants

Front

Wants shared by large groups

Back

Public wants

Front

Necessary wants

Back

Needs

Front

Physically weighed or measured:

Back

Goods

Front

Tasks performed by people or machines that satisfy wants for intangible things.

Back

Services

Front

Anything people use to obtain needs or wants

Back

Resource

Front

Resources limit the number of wants people can satisfy.

Back

True

Front

Procedure for considering alternatives before a final decision.

Back

Decision-making process

Front

NOT part of the decision-making process:

Back

Make a purchase

Front

True or false: There are never other options in decision making.

Back

False