Business Bailey

3. is the amount of goods and services that consumers are able and willing to buy at a particular price.
5. is a price that a consumer is prepared to pay and one that a supplier is prepared to sell for.
7. is the ability to see opportunity, manage risk and coordinate resources effectively.
10. is the process of making goods and services available for the consumer.
11. are items that we would like to make our lives easier and more enjoyable we do not need them to survive for example, Fortnite, PS4, tickets to the next 10 Melbourne storm games.
13. involves a business making their producer service look more attractive than a competitors.
14. is the study of how we choose to use scare resources to satisfy our wants.
15. includes resources made by people to assist in the production of goods and services.
16. is any activity that generates a good or services available to the consumer.
18. is the mount of goods and services the producer or supplier is able and willing to supply at a particular price.
19. refers to when something is in unsufficient supply.
20. areites that we consume tosatisfy our needs and wants.

1. describes natural resources used in the production of goods and sevices
2. occurs when the amount demanded by consumers equals the amount supplied by suppliers and a market price is agreed upon.
4. are jobs or tasks that we pay others to preform for us (eg. we pay a motor mechanic to service our car).
6. is made up of all the people who are interested in buying (buyers, consumers) or selling (sellers, producers) a particular good or service.
8. are items that we require to survive, for example food, shelter, clothes, and water.
9. is the human effort used to produce goods and services.
12. is the consuming (using up)of items produced.
17. are anything that can be used to produce goods and services to fulfill wants.