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ECONOMICS, image, image, image, image - Coggle Diagram
ECONOMICS
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Goods and Services :
Goods -are anything that anyone wants or needs, they are somethig that you can touch. For example, a football, a tshirt
Servies - are provided by other other people, they cannot be touched. For example, a hairdresser.
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Prices in a Market
The price of an item is determined by how much people are willing to spend and for what price businesses are willing to sell the item
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Consumer Needs - a consumer's desire to have a product based on its function and emotional need. Things that are needed to survive
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Opportunity - cost is the real or economic cost of a decision. It is the value of the best alternative that you give up.
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