Things that you do NOT have to have in order to survive.

Things that you must have in order to survive.

Physical products—i.e. groceries, phones, etc.

Tasks that businesses perform for consumers.

Items that people can use to make or obtain what they need or want. (money, labor, fuel)

The money left over after a business has paid the cost of providing its goods and services.

Any commercial activity that seeks profit by providing goods or services.

The contest between businesses to win customers.

A person who uses goods or services. (Products are discontinued when there is NO demand for them from the consumer.)

The act of gathering and analyzing information about the wants, needs, and preferences of consumers in a certain market. (what is demanded by the consumer)

1st step in 5 STEPS in the DECISION-MAKING PROCESS

2nd step in 5 STEPS in the DECISION-MAKING PROCESS

3rd step in 5 STEPS in the DECISION-MAKING PROCESS

4th step in 5 STEPS in the DECISION-MAKING PROCESS

5th step in 5 STEPS in the DECISION-MAKING PROCESS

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