Introduction to Business > Chapter 1: Wants & Needs > Flashcards

Chapter 1: Wants & Needs Flashcards

(6 cards)

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1
Q

Business Departments

A 
Sales
Marketing
IT (Information Technology)
Human Resources
Accounting
Finance
Management
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2
Q

wants and needs

A

limited resources for UNlimited wants and needs (scarcity)

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3
Q

profit motive

A

the reason businesses exist

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4
Q

competition

A

the contest between business to attract and keep customers

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5
Q

goods

A

physical products (phones, clothes, etc.)

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6
Q

services

A

businesses perform tasks (hair cut, etc.)

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