Term
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Definition
| A good or service with tangible and intagible characteristics that provide satisfaction and benefits |
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Term
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Definition
| Individuals or organizations who try to ear a profit by providing products that satisfy people's needs |
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Term
| What is the primary goal of a business? |
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Definition
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Term
| Organizations that provide goods or services but do not have the fundamental purpose of earning a profit is? |
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Definition
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Term
| Groups or individuals that have a stake in the success and outcomes of a business are known as? |
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Definition
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Term
| What is Pure Competition? |
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Definition
| The market structure that exists when there are many small businesses selling one standardized product |
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Term
| What is Monopolistic Competition? |
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Definition
| The market structure that exists when there are fewer businesses than in a pire=competition environment and the differences amoung the goods they sell are small |
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Term
| The market structure that exists when there are very few businesses selling are product is known as? |
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Definition
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Term
| The sum of all goods and services produced in a country during a year is known as? |
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Definition
| Gross Domestic Product or GDP |
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