Things a person must have for survival, such as food, shelter, and clothing are called...

Goods are...

True or False: Ideas are goods.

What are jobs that people or machines do for other people?

The amount of money left over after a business has paid for the cost of producing goods and services is called what?

What do you call a contest between businesses to win customers?

A person who selects, purchases, or uses goods or services is called a...

The amount of money a business brings in from sales of a product or service is called what?

The amount of money a business has to spend on production costs, bills, employees, etc. is called what?

A plan that describes the markets, customers, expenses, and finances involved in starting a business is a...

___________________ allows businesses to get information about the wants and needs of customers, competition, and the costs of creating a product or services to begin selling it.

When people want or need to buy a product or service.

The materials and supplies that businesses use to make a product or provide a service (can include fuel, money, people, etc.) are called ____________________.

True or False: To finance something is to pay for something.

The system businesses use to get their products and services to customers is called...

Which of the following explains why businesses must satisfy needs first, then wants?

True or False: Your wants never change.

True or False: Businesses help the economy by providing people jobs.

In economics, ________ is the amount of a resource that a person or business is willing and able to provide to the marketplace or to an individual.