BusinessCents Vocabulary March 15

Communication used by businesses to persuade consumers to buy a good or service.

A decision made between two or more possibilities or alternatives.

People who buy goods and services to satisfy their wants.

Deciding among choices (alternatives or options).

The quantity of a good or service that buyers are willing and able to buy at all possible prices during a certain time period.

Buyers and sellers coming together to exchange goods, services, and/or resources.

The amount of money, determined by the interaction of buyers and sellers, that a buyer must pay to acquire a good, service, or resource.

The amount of revenue that remains after a business pays the costs of producing a good or service

Using some or all of your income to buy things you want now.

An exchange, promise, or agreement between two parties that is enforceable by law. For example, a car buyer agrees to pay the amount financed at an agreed-upon interest rate for the length of the contract.