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The process of creating goods and services to satisfy human wants and needs?
production
The use of goods and services to satisfy human wants and needs is known as what?
consumption
What are the similarities between goods and services?
goods are tangible and transferable , services are not
Is concerned with all of the activities involved in creating goods and services and the distribution of those goods and services to customers?
Me
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.
The process of creating goods and services to satisfy human wants and needs?
production
What is industrial market?
industrial market this are the organizations (business or nonbusiness) that require goods and services which are used in the production of goods or services thay they later sell or distribute at a profit or to satisfy an objective. industrial market this are the organizations (business or nonbusiness) that require goods and services which are used in the production of goods or services thay they later sell or distribute at a profit or to satisfy an objective.
Is commerce part of the production process or a separate process?
For some, commerce may be seen as part of the production process as it involves the exchange of goods and services and the creation of value. Others may view commerce as a separate process that is distinct from production, as it typically involves the exchange of goods and services that have already been produced.
The use of goods and services to satisfy human wants and needs is known as what?
consumption
What are the similarities between goods and services?
goods are tangible and transferable , services are not
Is concerned with all of the activities involved in creating goods and services and the distribution of those goods and services to customers?
Me
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.
What must business provide to consumers in order to satisfy their wants and needs?
goods and services
Production does not include?
Production does not include distribution, marketing, or sales activities. It specifically refers to the process of manufacturing or creating goods or services.
What are activities that satisfy peoples needs and wants?
the exchange of goods and services without the use of money is
What makes allocation decisions necessary?
There are never enough goods and services to satisfy all wants and needs.
What is concerned with all of the activities involved in creating goods and services and the distribution of those goods and services to customers?
business is a bad thing so leave it
