Economics

2. basic requirements for survival
6. organizations that produces goods or provides services to make profit
8. when the supply of a good or service matches the demand for it
9. quantity of a product or service that customers are willing and able to purchase at a certain price
11. management structure where decisions are to be made by top level management
12. activities or tasks provided to customers by businesses
13. management structure where its a blend of market driven and government controlled decision making
17. products that can be used in place of another product
20. the increase in the price of goods and services over a period of time
21. physical products that you can see and touch
22. desire for relationships, belonging and teamwork
23. when a company or worker focuses on a specific task/skill to become an expert in that particular area
25. goods and services that people wish or desire but aren’t essential for survival
27. total value of all good and services produced in a country over a period of time, measures the size and overall health of the a country’s economy
29. when the price of a good or service increases, whiles the quantity demanded by customers decreases
31. people or organizations that buy and use good or services
32. basic necessities that people need to survive

1. the measurement used to measure the changes in the market princes in a good and/or service
3. materials or substances that are found in nature that are used to make goods and services
4. the maslow’s theory idea that this person has that a person does not feel this higher need until the current level is fulfilled
5. group of people or individuals who create/manufacture goods and services
7. the people who work to help the business operate and produce goods and services
10. desire for respect, recognition, self confidence, and sense of accomplishment
14. when the price of good or service increases, and the quantity supplied also increases by producers, and the same when it decreases
15. creation of new products, ideas, or ways of doing things that improve or change the way a business operates
16. the amount of a good or service that consumers are willing and able to buy at a certain price for that time period
18. the amount of a good or service that producers are able to sell at a certain price
19. creation of completely new product or process that has never existed before
24. products that are often used together
26. the lowest point in a business cycle, where the economic activity is the lowest and weakest
28. when businesses rely on each other to succeed
30. the amount of a good or service that period producers are willing and able to sell at a certain price for that time period