0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What must business provide to consumers in order to satisfy their wants and needs?
goods and services
How do businesses satisfy needs and wants?
needs are essential to ones survival, while wants merely express a desire for something which could over time, help to satisfy a need. as societies become more complex, and as human begins take on more sophisticated lifestyles, their needs and wants increase. therefore a variety of needs and wants are expected to be satisfy.
Why is business activity needed?
Business activity is needed to provide services and goods to satisfy wants and needs as well as to provide jobs. Business activity helps keep the economy going.
How can resources limit the number of wants people and businesses can satisfy?
A customer will have wants and needs. A need is anything you need to survive: water food shelter warmth food A want is evrything else: A watch A pony An ipad A TV A car Business seeks to satisfy customers needs and wants. Think about a supermarket it will sell things people need - water, food, etc and things people want - wine, DVDs, jewellery etc Resources are anything that is used to make a good ( a product) or provide a service (like gardening or cleaning, something you can't touch.) When resources are scarce ( in short supply, running low) then customers wants cannot be satisfied. For example you go to the shops to buy strawberries for dinner BUT there has been a bad summer and a poor strawberry crop. The strawberries are in short supply and the supermarket has run out. You cannot satisfy your need for strawberries!
How do you we satisfy unlimited wants with limited resources?
ferns
What must business provide to consumers in order to satisfy their wants and needs?
goods and services
The power of a good or service to satisfy a human need is called utility?
To satisfy human "wants" and not "needs"
What do businesses do to satisfy peoples needs and wants?
Business seeks to satisfy the needs and wants of customers. Needs are things that we all need to survive: water Food shelter warmth Wants are everything else: A luxury Boat A New Car Air Travel Pets An expensive Watch Business does this by creating goods for sale - and providing them in a place where customers can buy them. Business also satisfies a customers needs by providing services such as hairdressers or cleaners.
How do businesses satisfy needs and wants?
needs are essential to ones survival, while wants merely express a desire for something which could over time, help to satisfy a need. as societies become more complex, and as human begins take on more sophisticated lifestyles, their needs and wants increase. therefore a variety of needs and wants are expected to be satisfy.
What is the idea that a business should strive to satisfy customers needs and wants while generating a profit for the firm?
It is the Marketing Concept.
Why is business activity needed?
Business activity is needed to provide services and goods to satisfy wants and needs as well as to provide jobs. Business activity helps keep the economy going.
Does consumer goods satisfy wants directly while capital goods satisfy wants indirectly?
That is correct.
Are wants the means of satisfying needs?
no,first we know that wants are somethings that we can live without $ needs are things we cann't live without, so this means in short that wants can never satisfy need.
Why do economists need to find the answer to all three of the basic questions?
There are not enough resources to satisfy people's seemingly unlimited wants.
How can resources limit the number of wants people and businesses can satisfy?
A customer will have wants and needs. A need is anything you need to survive: water food shelter warmth food A want is evrything else: A watch A pony An ipad A TV A car Business seeks to satisfy customers needs and wants. Think about a supermarket it will sell things people need - water, food, etc and things people want - wine, DVDs, jewellery etc Resources are anything that is used to make a good ( a product) or provide a service (like gardening or cleaning, something you can't touch.) When resources are scarce ( in short supply, running low) then customers wants cannot be satisfied. For example you go to the shops to buy strawberries for dinner BUT there has been a bad summer and a poor strawberry crop. The strawberries are in short supply and the supermarket has run out. You cannot satisfy your need for strawberries!
If all you need is love then why not love food?
Because unlike love food cannot satisfy your emotional needs and wants from life
How does production help in satisfying needs and wants?
It provides products to satisfy your needs and wants.
