Chapter 1 Intro to Business Flashcards

Front

An action or task that is performed, usually for a fee

Back

Service

Front

An individual or group who buys a product

Back

Customer

Front

Anything that can be bought or sold

Back

Product

Front

A physical item that can be touched

Back

Good

Front

Something that is needed to survive

Back

Need

Front

Something that is not required to live

Back

Want

Front

The function of business that involves the process of controlling and making decisions about a business

Back

Management

Front

The function of business that involves all activities that identify, anticipate, and satisfy customer demand while remaining profitable

Back

Marketing

Front

The function of business that involves money

Back

Finance

Front

A science that examines how goods and services are produced, sold, and used

Back

Economics