2.3 Differentiate Between Goods & Services

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Across
  1. 1. A type of product that people don’t plan on wanting or needing.
  2. 5. Something’s usefulness and the degree to which wants are satisfied is called _______ utility.
  3. 6. The reality that people’s wants always exceed the resources available to fulfill those wants.
  4. 9. An entity that manufactures a product or provides a service.
  5. 12. A person or group that actually uses the product as a part of their business operations or uses it to make other products, is called an ________ user.
  6. 15. A tangible item that has utility, is scarce, and is transferable.
  7. 16. Something that can be touched, and/or can be perceived by one or more of the other senses.
  8. 17. Unique items that consumers will spend a lot of time looking for are called ______ products.
Down
  1. 2. Items that usually cost more and are only purchased occasionally are called ______ products.
  2. 3. The ability to be moved from one person or place to another.
  3. 4. A desire that doesn’t require money to be obtained, like talking to a friend.
  4. 7. Desire for goods, services or intangible items that can only be acquired by spending money – items like a car, or a haircut, or a patent.
  5. 8. Products that are easy for consumers to find and buy are ________ products.
  6. 10. An intangible provision that has utility, is scarce, and is transferable is called economic __________.
  7. 11. An item that is required, essential, or very important, well beyond just a desire.
  8. 13. The ultimate consumer or industrial user, also called the final user, or final customer.
  9. 14. A person who actually uses or consumes the product (also called the final user, or final customer), is called the __________ consumer.