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Marketing Chapter 3 Vocab

Mr. McCann

25 vocab words from Principles of Marketing, Chapter 3

1 2
3 4                                  
11                   12                
    17     18
    19                           20
22             23                          

4.Natural resources, capital, equipment, and labor
5.The decision to use resources toward the greatest satisfaction of
6.The relationship between the quantity of a product that
7.The increased satisfaction arising from the change in
9.When the price of a product is increased, more will be
11.The resources and decisions are shared between the
15.The economic condition where there are many
16.The relationship between price and quantity demanded
19.The use of resources toward the greatest profit for the
21.The study of the economic behavior and relationships of
22.The relationship between the quantity of a product consumers are
23.The study of the relationships between individual
24.The increased satisfaction arising from making the product
1.A system where the government attempts to own and
2.A system based on independent decisions by
3.The point where supply and demand for a product are equal
6.The graph of the relationship between price and quantity
8.The resources are owned by individuals rather than the
10.A market condition where there are a large number of
12.The amount of satisfaction a consumer receives from
13.When the price of a product is reduced, more of it will
14.All of the consumers who will purchase a particular
17.A type of market in which there is one supplier offering a
18.A type of market in which a few businesses offer very similar
20.Unlimited wants and needs combined with limited resources

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