Commerce Concepts Quiz

The buying and selling of goods and services between individuals and businesses.

Someone who purchases goods and services to satisfy their needs and wants.

Goods are items you can see or touch (tangible), while services are things done for you by others (intangible).

<p>Opportunity cost is what an individual gives up in order to satisfy a need or want.</p> Signup and view all the answers

<p>A budget is a list of planned income and expenses for a future period.</p> Signup and view all the answers