Circular Flow Diagram. Key terms to understand Products: Items consumers (who live in households) purchase Examples of products: –GOODS: clothes, shoes,
Chpt15
How can these factors be controlled? Number of workers Their education and training Technological advances Available machinery and labor.
Supply and Demand DEMAND. In order to have demand you need someone with the desire for the product, ability to pay, and willingness to purchase. (BUYER).
Unit 2
20-20 Virtual Planner 4.5 Brochure
