Demand is wants backed by.
Willingness to pay
Ability to pay
Both willingness and ability to pay
Needs
Which of the following is a characteristic of services?
Tangible
Intangible
Separable
Volatile
Which of the following is a characteristic of goods?
Inseparable
Which of the following influence the way in which we satisfy our needs?
Wants
Demand
Effective demand
Supply
Production that uses a high proportion of capital compared with labour.
Capital intensive production
Labour intensive production
Machinery intensive production
Human intensive production
Items we must have in order to live.
Goods
Services
Self employed traders falls under which of the following category?
Private enterprises
Public enterprises
Non profit making organisation
Non governmental organisations
What do business produce?
Goods,services
Labour,capital
Capital,services
Goods,capital
Business owned and run by the government.
Small scale enterprises
Production that uses a high proportion of labour compared with machinery and equipment is called
