Business Essentials Vocab Practice (2.02)

Reorder the following by defining consumer.

Reorder the following by defining economic activities.

Capital Goods are (a)   or constructed items that are used to produce goods and services.

Match the following

Reorder the following by defining decision-making.

Consumption is the process or activity of using goods and (a)   .

____________ the process or activity by which income is divided among resource owners and producers.

_______________ the process of deciding which goods and services will be purchased or provided so that the most satisfaction can be obtained; deciding how scarce resources will be used.

___________ are intangible activities that are performed by other people for money; productive acts that satisfy economic wants.

________________ is a condition resulting from the gap between limited resources and unlimited wants for goods and services.