The customer of a service business is often called a _____.

Anything that is bought or sold is called a(n)_____.

Customers who purchase goods and services for their own use are called _____Groups

_____ utility is added when a business changes the form of a good or service to make it more useful.

A _____ is anywhere buyers and sellers meet to buy and sell goods and services.

The difference between the income earned and the expenses incurred by a business during a specific period of time is called _____.

A science that examines how goods and services are produced, sold, and used is called _____.

A _____ economy is one in which economic decisions are based on a values, culture, and customs.

The law of ____________ says that the price of a product is determined by the relationship of the supply of a product and the demand for the product.

Which is NOT one of the 3 overarching business activities?

Which business activity is comprised of day-to-day functions?

Major business purchases such as stock, bonds, buildings and equipment are part of _________________ activities.

Which of the following are part of financial activities of a business (check all that apply)?

The study of how people satisfy unlimited wants and needs with limited resources.

Good is a physical item that can be touched

Service is an action or task that is performed, usually for a fee.

Is something a person must have in order to survive

Is something that a person desires but can survive without

Money earned in exchange for work

Businesses operate to earn profits

A level of material comfort measured by the goods, services, and luxuries available

The study of economics is divided into