Identification and True or False Quiz

This resource supply things from nature like oil, mineral and water.

• Human Resource

• Natural Resource

• Technology Resource

• Capital Resource

These are costs that must be paid regardless of how much of a good or service is produced.

• Fixed Cost
• Variable Cost

• Profit

• Capital

These are things that you must have in order to survive.

• Wants

• Technology

• Needs

The most common type of primary market research.

• Survey

• Observation

• Focus Group

A group of customers within a large market who share common characteristics.

• Market Segment
• Customer Profiles

• Target Market

• Corporation

A competition where a business that makes most of its money selling the same or similar products or services to the same market as other businesses.

• Indirect Competition

• Direct Competition

In this economy, individuals and businesses decide what, how, and for whom goods and services are produced.

• Mixed Economy

• Command Economy

• Traditional Economy

• Market Economy

It is an in-depth interview with a group of target customers who provide valuable ideas on products or services.

• Focus Group
• Survey

• Observation

• Personal Interview

it is a description of the characteristics of the person or company that is likely to purchase a product or service.

• Market Research

• Customer Profile

• Survey

• Competitors Analysis

When elements of the command and market economies are combined.

• Mixed Economy
• Combination Economy

• Double Economy

• Dual Economy