Business Bailey

5. are anything that can be used to produce goods and services to fulfill wants.
8. is the human effort used to produce goods and services.
9. involves a business making their producer service look more attractive than a competitors.
10. is the process of making goods and services available for the consumer.
11. describes natural resources used in the production of goods and sevices
14. is the consuming (using up)of items produced.
15. 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.
16. refers to when something is in unsufficient supply.
17. is the amount of goods and services that consumers are able and willing to buy at a particular price.
19. is the mount of goods and services the producer or supplier is able and willing to supply at a particular price.
20. are jobs or tasks that we pay others to preform for us (eg. we pay a motor mechanic to service our car).

1. is made up of all the people who are interested in buying (buyers, consumers) or selling (sellers, producers) a particular good or service.
2. areites that we consume tosatisfy our needs and wants.
3. is any activity that generates a good or services available to the consumer.
4. are items that we require to survive, for example food, shelter, clothes, and water.
6. occurs when the amount demanded by consumers equals the amount supplied by suppliers and a market price is agreed upon.
7. is a price that a consumer is prepared to pay and one that a supplier is prepared to sell for.
12. is the study of how we choose to use scare resources to satisfy our wants.
13. is the ability to see opportunity, manage risk and coordinate resources effectively.
18. includes resources made by people to assist in the production of goods and services.