Consumer goods and services:, Products produced for personal consumption, Consumers:, People who use goods and services to satisfy their wants, Convenience products:, Consumer goods and services purchased quickly and without much thought or effort, Economic goods:, Economic goods: Physical objects that are useful, scarce, and transferable and which satisfy economic wants, Economic services:, Productive acts that are useful, scarce, and transferable and which satisfy economic wants, Economic want:, A desire for something that can only be satisfied by spending money, Equipment:, Industrial goods used in the operation of a business but not used in the actual production of a good or service, Goods:, Tangible objects that can be manufactured or produced for resale, Impulse item:, Any item purchased as a result of an on‑the‑spot decision to buy, Industrial goods and services:, Products purchased by producers for resale, to make other goods and services, and/or to use in business operations, Installations:, High-cost, long-lasting industrial goods that are used to produce other goods and services, Market research:, The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market, Materials:, Industrial goods that become part of a finished product after they have been processed, Noneconomic want:, A desire for something that can be satisfied without spending money, Parts:, Industrial goods that become part of a finished product without any additional processing, Producers:, The people who make or provide goods and services, Product:, A good or service that a company sells to customers, Raw materials:, Items in their natural state or condition, Scarce:, Limited, Services:, Intangible activities that are performed by other people for money; productive acts that satisfy economic wants, Shopping products:, Consumer goods and services purchased after customers compare products to get the best quality, price, and/or servic, Specialty products:, Consumer goods and services with special or unique characteristics that customers are willing to exert special efforts to obtain, Staple item:, A frequently purchased item that businesses keep on hand continuously because the demand for it is constant, Supplies:, Industrial goods that are constantly being purchased and used up in the operation of a business, Tangible:, Capable of being touched, smelled, tasted, seen, or heard; physical, Ultimate consumer:, Anyone who personally uses a good or service to satisfy their own wants, Unsought products:, Consumer goods and services bought out of necessity or adversity rather than desire, Want:, A desire for something that may or may not be required.

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