{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}


BUSINESS_130_CH1_Keywords - BUSINESS 130 Keywords Chapter 1...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
BUSINESS 130 Keywords: Chapter 1 Production- making goods or performing services. Customer Satisfaction- the extent to which a firm goes to fulfill customers needs. Innovation- development and spread of new ideas, goods, and products. Marketing- the performance of activities that seek to accomplish an organizations objective by anticipating customer and client needs. Pure Subsistence Economy- each family unit produces everything it needs to consume. Macro-Marketing- a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand. Economies of Scale- as an economy produces large numbers of a certain product, the cost of each of the products goes down. Universal Functions of Marketing- buying, selling, transporting, storing, standardizing and grading, financing, risk-taking, and market information. Buying Function- looking for and evaluating goods and services.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}