2-3 Glossary -Differentiate Between Goods & Services

2-3 Glossary -Differentiate Between Goods & Services

Assessment

Flashcard

Business

12th Grade

Practice Problem

Easy

Created by

Julia North

Used 1+ times

FREE Resource

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17 questions

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1.

FLASHCARD QUESTION

Front

Convenience Products

Back

Products that are easy for consumers to find and buy.

2.

FLASHCARD QUESTION

Front

Economic Good

Back

A tangible item that has utility, is scarce, and is transferable.

3.

FLASHCARD QUESTION

Front

Economic Need

Back

An item that is required, essential, or very important, well beyond just a desire.

4.

FLASHCARD QUESTION

Front

Economic Want

Back

Desire for goods, services or intangible items that can only be acquired by spending money – items like a car, or a haircut, or a patent.

5.

FLASHCARD QUESTION

Front

Economic Service

Back

An intangible provision that has utility, is scarce, and is transferable.

6.

FLASHCARD QUESTION

Front

Economic Utility

Back

Something’s usefulness and the degree to which wants are satisfied.

7.

FLASHCARD QUESTION

Front

End User

Back

The ultimate consumer or industrial user, also called the final user, or final customer.

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