Basic Marketing & Economics

Something a person must have to survive.

• iPhone X

• Need

• Service

• Want

3 Economic Resources are

• Natural, human, technical
• Natural, human, capital
• Natural, human, environmental
• Natural, human, coinage

These can be physically weighed or measured or touched

• Services

• Resources

• Consumer

• Goods

All of the following is a need EXCEPT

• a good education

• food

• water

• jewelry

A producer is some one who

• sells products

• is very creative

• make things

• employs other

A business is an organization that offers goods and services.

• True

• False

_________________use goods and services.

• Customers

• Consumers

• Businesses

The difference between the amount earned and the amount spent in buying, operating, or producing something.

• Service

• Goods

• Profit

• Profit motive

Things that are not necessary for our survival but add pleasure and comfort to our lives such as TVs, candy bars, jewelry.

• Needs

• Wants

• Goods

• Services

Which answer below is one of the 4 P's of Marketing

• Placement
• Process
• Plan
• Pay