5.01 Vocab 1

Anyone who uses goods and services.

A marketing/business function that is responsible for moving, storing, locating, and/or transferring ownership of goods and services.

The process of deciding which goods and services will be purchased or provided so that the most satisfaction can be obtained; deciding how scarce resources will be used.

The process or activity of using goods and services.

The best time for consumers to buy; characterized by large supply, small demand, and low prices.

Desires for items that can only be obtained by spending money

Manufactured or constructed items that are used in the production of goods and services

A form of demand for products in which changes in price correspond to changes in demand.

The quantity of a good or service that buyers are ready to buy at a given price at a particular time.

Tangible items produced for personal use.