All of the following are activities that are undertaken by a business when developing a product or service except:

What are most public wants satisfied by?

Which is a want that government can not satisfy?

_____________ is the act of gathering and analyzing information about the wants, needs, and preferences of consumers.

What is an activity that seeks profit by providing goods and services for peoples consumption?

What must businesses provide to consumers in order to satisfy their wants and needs?

Goods can not be physically weighed or measured, but services can.

Private wants are wants that are shared by few people and are satisfied by the individual.

For the most part, local, state and federal governments satisfy public wants.

When your wants and needs conflict with your resources, you must make a decision.

Profit refers to the money that consumers pay for a good/service.

Competition benefits businesses as well as consumers.

Business affects you as much as you affect business.

The decision making process is only useful for making business decisions.