Marketing Terms

A Complimentary Good is?

• Something that goes with your outfit.

• Something you buy instead of something else.

• Something you buy to improve something you bought

• What you give up to buy something else.

A producer is:

• Someone who makes movies

• a person or company that produces or supplies goods or services

• a person who uses goods or services

• A person who supervises the production of goods or services.

What are services?

• Something you attend on the weekends.

• Actions you can buy

• products you can buy

• People who do your nails

Consumers are:

• People who buy goods and services

• People who produce products

• People who provide services

• People who use all the toilet paper and don’ t put out the roll

What is opportunity cost?

• How much it costs to take the bus to the movie

• How much it costs to buy butter to go on your popcorn

• what you give up when you choose to do or buy something

• You buy Nike instead of Converse sneakers.

A good is:

• Something that you like

• Products that you can buy

• something you have done for you like a manicure

• The person who delivers a product or service.

What is the law of supply and demand?

• The more of something there is the more it will cost

• The less of something there is the less it will cost.

• The.less of something there is the more it will cost.

• The more of something there is the less it will cost

What is utility?

• The satisfaction you get from consuming a given amount of goods or services.

• electricity and water

• How useful something is.

• The additional satisfaction you get from consuming more of a good or service.

What is marginal utility ?

• The additional satisfaction you get from consuming more of a good or service.

• electricity and water

• How useful something is.

• The satisfaction you get from consuming a given amount of goods or services.

A substitute good is?

• Goods you keep in your house regularly to cook with

• A person who does your hair when your regular stylist is out.

• A product you select instead of your original choice

• A product you buy to go with something you already own.