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How do you we satisfy unlimited wants with limited resources?
ferns
What are three basic economic activities?
Thee basic economic activities are; production- is any activity design to satisfy people's wants. consumption- is using up of goods and services to satisfy our wants. exchange- people can satisfy some of their wants by producing some goods and services themselves.
People must make choices to satisfy their needs and wants?
Economic
When the economist says that economic wants are insatiable this means that?
It means that there are limited resources to satisfy the unlimited wants of individuals.
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!
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.
When working with a customer your primary job is to satisfy your boss?
FALSE, always satisfy your customers. All the BOSS wants.
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.
What is program service?
A system service program is a configuration of technology and organizational networks designed to deliver services that satisfy the needs, wants, or aspirations of customers.
Does consumer goods satisfy wants directly while capital goods satisfy wants indirectly?
That is correct.
What is System Service Program?
A system service program is a configuration of technology and organizational networks designed to deliver services that satisfy the needs, wants, or aspirations of customers.
What is the duties of a sales rep?
It is to generate and close leads, educate prospects, fill needs and satisfy wants of consumers appropriately and therefore turn prospective customers into actual ones.
What are Customer attributes?
is an organisation where they cannot hope to satisfy the needs and wants all the customers. Customer attributes includes the way the business is working and the way the customers are buying the products and the regular occasional shoppers form family status- like children's and adults.
How does production help in satisfying needs and wants?
It provides products to satisfy your needs and wants.
The power of a good or service to satisfy a human need is called utility?
To satisfy human "wants" and not "needs"
How do you we satisfy unlimited wants with limited resources?
ferns
What is the aim of production?
satisfy people's wants
