Products are commonly known as

Utility describes the characteristics of a product that satisfy

Which of the following is not a function of a business?

Entrepreneurs take risks to start and run.....

In a __________ economy, individuals are free to make their own economic decisions.

The market price for a product is determined at a point where.....

When demand for a product becomes greater than available supply a(n) _________ develops

Businesses operate to earn ___________?

___________ are money earned in exchange for work

The __________ function of business is responsible for the activities involving money

All economic resources are limited, but needs and wants are ____________

Which of the following is not one of the four factors of production?

People who start businesses are.......

What is the basic economic problem?

An individual or group that buys a product is called a

A(n) _______ is something a person must have to survive

The price of a product is determined by the law of _________

An action or task that is performed, usually for a fee