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16 Cards in this Set
- Front
- Back
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Wants
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The things you wish you could have. |
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Needs
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Necessary wants. (Food, shelter, and clothing.) |
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Goods
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Items that can be physically weighed or measured. |
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Services
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Tasks that people or machines perform. |
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Resource |
Anything that people can use to make or obtain what they need or want. |
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Business |
Any activity that seeks profit by providing goods or services to others.
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Profit |
The amount of money left over after a business has paid for the cost of producing its goods and services. |
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Competition |
The contest between businesses to win customers. |
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Consumer |
A person who selects, purchases, uses, or disposes of goods or services. |
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Private Wants |
Wants that are shared by a small group of people. |
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Public Wants
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Wants that are widely shared by many people. (Such as highways, drinking water, etc.) |
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First step in the decision making process
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Identify the problem |
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Second step in the decision making process
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Third step in the decision making process |
Determine the pros and cons |
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Fourth step in the decision making process |
Make the best decision |
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Last step in the decision making process |
Evaluate your decision |
