| A | B |
|---|
| Consumer | A person who uses goods or services |
| Goods | Items that can be physically weighed or measured, such as iPods and CDs |
| Services | Tasks that businesses perform for consumers |
| Needs | Items necessary for existence, such as food, clothing, water, shelter |
| Wants | Items that would be nice to have but are not necessary |
| Profit | Income>Expenses |
| Profit Motive | The reason people work; To gain something or make money |
| Sole Proprietor | A business owned by one person |
| Customer | A person who buys goods and services |
| Competition | When business compete to win customer's loyalty |
