| A | B |
|---|
| POSSESSION UTILITY | REFERS TO THE VALUE ADDED BY EXCHANGING A PRODUCT FOR MONETARY VALUE |
| CAPITAL | THE MONEY NEEDED TO START AND OPERATE A BUSINES OR THE PRODUCTS USED IN THE PRODUCTION OF OTHER GOODS |
| TIME UTILITY | REFERS TO THE VALUE ADDED BY HAVING A PRODUCT AT A CERTAIN TIME OF YEAR OR A CONVENIENT TIME OF DAY |
| ENTREPRENEURS | ORGANIZE ECONOMIC RESOURCES IN ORDER TO CREATE GOODS AND/OR SERVICES NEEDED AND DESIRED IN AN ECONOMY |
| INFORMATION UTILITY | REFERS TO THE VALUE ADDED BY COMMUNICATING WITH THE CUSTOMER |
| UTILITY | REFERS TO THE ADDED VALUE OR USEFULNESS OF A PRODUCT |
| SCARCITY | UNLIMITED WANTS MEET LIMITED RESOURCES ALSO KNOWN AS A SHORTAGE |
| FACTORS OF PRODUCTION | INCLUDES LAND, LABOR AND CAPITAL RESOURCES WHICH CAN BE USED TO PRODUCE THE GOODS AND SERVICES THAT PEOPLE CONSUME |
| SURPLUS | A CONDITION WHERE CONSUMERS DESIRES LESS GOODS AND SERVICES THAN WERE PRODUCED ALSO REFERRED TO AS AN OVERAGE |
| LABOR | HUMAN RESOURCES INCLUDING ALL WORKERS IN THE ECONOMY |
| PLACE UTILITY | REFERS TO THE VALUE ADDED BY HAVING A PRODUCTG WHERE CUSTOMERS CAN BUY IT |
| LAND | NATURAL RESOURCES INCLUDING EVERYTHING CONTAINED IN THE EARCH AND FOUND IN THE SEA |
| FORM UTILITY | REFERS TO THE VALUE ADDED BY CHANGING RAW MATERIALS OR PUTTING PARTS TOGETHER TOMAKE THEM MORE USEFUL |
