Apex Economics 2.1 – Consumers and Producers – Flashcards
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business:
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An organization that employs people to produce goods or services.
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consumer:
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Someone whose role is to use goods and/or services.
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incentive:
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A cost or benefit that motivates a decision or action.
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market research:
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Research into the size, location, and makeup of a product market.
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peer pressure:
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The influence of other people's behavior on someone's decisions.
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producer:
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Someone whose role is to provide goods and/or services.
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trend:
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A general direction of the market, like a higher demand or supply for a particular product or a service.
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worker:
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Someone whose role is to make goods or deliver services.
