| A | B |
|---|
| consumer | is a person who selects, purchases, uses, or disposes of goods or services. |
| Needs | Necessary wants. |
| competition | the contest between businesses to win customers. |
| goods | can be physically weighed or measured. It satisfies your wants and needs for material things that you can see or touch. |
| wants | are the things you wish you could have. |
| services | are tasks that people or machines perform. |
| profit | is the amount of money left over after a business has paid for the cost of producing its goods and services. |
| resource | is anything that people can use to make or obtain what they need or want. |
| scarcity/scare | Limited or shortage of resources. |
| business | is any activity that seeks profit by providing goods or services to others. |
| unlimited | no restrictions, vast or an abundance of resources |
| limited | restriction amounts of resources being able to be used by an a business; restricted, scarce. |
