MIE 201 Test 1 Makanui Questions & Answers 100% Upadated!

business - ANSWERSindividuals or organizations who try to earn a profit by providing products that satisfy people's needs products - ANSWERSa good or service with tangible and intangible characteristics that provide satisfaction and benefits profit - ANSWERSthe difference between what it costs to make and sell a product and what a customer pays for it nonprofit organizations - ANSWERSorganizations that may provide goods or services but do not have the fundamental purpose of earning profits stakeholders - ANSWERSgroups that have a stake in the success and outcomes of a business economics - ANSWERSthe study of how resources are distributed for the production of goods and services within a social system natural resources - ANSWERSland, forests, minerals, water, and other things that are not made by people human resources (labor) - ANSWERSthe physical and mental abilities that people use to produce goods and services financial resources - ANSWERSthe funds used to acquire the natural and human resources needed to provide products economic system - ANSWERSa description of how a particular society distributes its resources to produce goods and service