Business & Economics Vocabulary Words

Term for all the activities involved in developing and exchanging products.

Anything that can be bought or sold.

Physical item that can be touched.

Action or task that is performed, usually for a fee.

Individual or group who buys products.

Something a person must have in order to survive

Individual or group who buys products.

Something that a person desires, but can survive without.

Level of material comfort measured by the goods, services, and luxuries available.

Characteristics of a product that satisfy wants and needs.