Intro to Business - 1.1

A _____________ is a physical item that can be touched.

Customers who purchase goods and services for their own use are _______________.

______ are money earned in exchange for work.

A ____________ is an individual or group who buys products.

a _________ is anywhere buyers and sellers meet to buy and sell goods and services.

_______ is a level of material comfort measured by the goods, services, and luxuries available.

The term for all the activities involved in developing and exchanging products.

In business, ______ describes the characteristics of a product that satisfy wants and needs.

A ______ is something that a person desires but can survive without.

A __________ is an action or task that is performed, usually for a fee.

A ___ is something a person must have in order to survive, such as food, clothing, and shelter.

The difference between income and expenses by a business during a specific period of time.

A ____________ is anything that can be bought or sold.