EPP Quiz #1: Buyers and Sellers | Needs, Wants, and Demands

It is the concept of providing of products and services to the people or consumers.

• Buying

• Business

• Storehouse

• Warehousing

These are the people who transfer products or services to the buyers in exchange for money.

• Sellers

• Manufacturers

• Warehouseman

• Buyers

People who agree to purchase products or services presented with the prescribed or correct features.

• Sellers

• Manufacturers

• Warehouseman

• Buyers

These products are the necessities of people, such as food, clothing, and shelter

• Needs

• Wants

• Demands

These are the products that consumers are willing to buy at a given price, in a given period.

• Needs

• Wants

• Demands

|These are the products or services that people desire or wish to have. These are not an obligatory part of life.

• Needs

• Wants

• Demands

What is the first level of needs in Abraham Maslow's Hierarchy of Needs?

• Psychological needs

• Safety or security needs

• Physiological needs

• Self-Actualization needs

What is the second level of needs in Abraham Maslow's Hierarchy of Needs

• Psychological needs?

• Safety or Security needs

• Physiological needs

• Self-actualization needs

What is the fifth level of needs in Abraham Maslow's Hierarchy of Needs?

• Psychological needs

• Safety or Security needs

• Physical needs

• Self-actualization needs

What is missing in this diagram?

• "Thank you" from costumer

• Handshake from costumer

• Money for payment

• Costumers complains