Chapter 1: Wants & Needs Flashcards
1
Q
Business Departments
A
Sales Marketing IT (Information Technology) Human Resources Accounting Finance Management
2
Q
wants and needs
A
limited resources for UNlimited wants and needs (scarcity)
3
Q
profit motive
A
the reason businesses exist
4
Q
competition
A
the contest between business to attract and keep customers
5
Q
goods
A
physical products (phones, clothes, etc.)
6
Q
services
A
businesses perform tasks (hair cut, etc.)
