Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

A202

Economic Goods and Services

QuestionAnswer
Consumer Goods And Services Products produced for personal consumption.
Consumers People who use goods and services to satisfy their wants.
Convenience Products Consumer goods and services purchased quickly and without much thought or effort.
Economic Goods Physical objects that are useful, scarce, and transferable and which satisfy economic wants.
Economic Services Productive acts that are useful, scarce, and transferable and which satisfy economic wants.
Economic Want A desire for something that can only be satisfied by spending money.
Equipment Industrial goods used in the operation of a business but not used in the actual production of goods and service.
Goods Tangible objects that can be manufactured or produced for resale.
Impulse Item Any item purchased as a result of an on-the-spot decision to buy.
Industrial Goods And Services Products purchased by producers for resale, to make other goods and services, and/or to use in business operations.
Installations High-cost, long-lasting industrial goods that are used to produce other goods and services.
Market Research The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that effects a market.
Materials Industrial goods that become part of a finished product after they have been processed.
Noneconomic Want A desire for something that can be satisfied without spending money.
Parts Industrial goods that become part of a finished product without any additional processing.
Producers The people who make or provide goods and services.
Product A good or service that a company sells to consumers.
Raw Materials Items in their natural state or condition.
Scarce Limited
Services Intangible activities that are preformed by other people for money; productive acts that satisfy economic wants.
Shopping Products Consumer goods and services purchased after customers compare products to get the best quality, price, and/or service.
Specialty Consumer goods and services with special or unique characteristics that customers are willing to exert special efforts to obtain.
Staple Item A frequently purchased item that businesses keep on hand continuously because the demand for it is constant.
Supplies Industrial goods that are constantly being purchased and used up in the operation of a business.
Tangible Capable of being touched, smelled, tasted, seen, or heard; physical.
Ultimate Consumer Anyone who personally uses a good or service to satisfy their own wants.
Unsought Products Consumer goods and services bought out of necessity or adversity rather than desire
Want A desire for something that may or may not be required.
Created by: Jaeylenr
Popular Business sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards