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 _____.

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.

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

The things you wish you could have

The gradual rise in prices

Tasks that people or machines perform; satisfy some of your wants for things you can’t see or touch.

Customers who purchase goods or services for their own use

says that the price of a product is determined by the relationship of the supply of a product and demand for the product

The money or fee you pay for borrowing money

What are the 4 functions of business?

An individual's ideas of what is right and wrong are called_____________________

A contract to rent something is a _______________

Never sharing specific information about a company or its employees is called __________________________

A legally binding agreement between two or more people or businesses is called a(n) _________________________________

What are businesses required by law to give all workers?

Principles that help define appropriate behavior in a business setting are ___________________

Overstating the features and benefits or products is called ___________________________________

Rules of behavior based on a group's ideas of what is right and wrong are called ________________________

A proposal to provide a good or service is an _____________

Behaving with sensitivity to social, environmental, and economic issues is having ________________________________

An organization that generates revenue -

An association of two or more persons who co-own a business with the objective of earning a profit is called a(n)

Business that is owned and often operated by a single individual

Share of ownership in a corporation

An accounting firm that prepares taxes for an advertising agency operates in the ______ market.

______ is a numeric system to classify businesses and collect economic statistics.

Which is not an example of a not-for-profit organization?

A business that buys large quantities of products directly from producers and sells products in smaller quantities to retailers is called a(n)

A_________________________ is a market that consists of customers who buy products for use in a business.

A major advantage of forming a corporation is _______.

1. What are the 4 functions of business?

1. What are the 4 levels of Inflation

1. What are the 4 factors of production?

The gradual rise in prices

___________ is being able to work efficiently with anyone with different skill sets, personality, work styles or motivation level to achieve a better team result.