| A | B |
|---|
| Information utility | Usefulness provided by communicating information about products |
| Nonprice competition | Competition based on factors that are not related to price |
| Free-market system | An economic system in which individuals, not the government, make important economic decisions |
| Direct competition | Competition between two or more retailers that utilize the same type of business format |
| Demand | The amount of goods consumers are willing and able to buy at a given price |
| Consumer goods | Acts performed for the consumer for a fee |
| Economic resources | Land, labor, and capital resources that can be used to produce the goods and services that people consume |
| Direct competition | Competition between two or more retailers that utilize the same type of business format |
| Form utility | Usefulness provided by changing raw materials or assembling parts to create a useable good |
| Law of supply and demand | The economic principle which states that the supply of a good or service will increase when demand is great and decrease when demand is low |
