Match the correct term to the definition/example.(6 points)

Question

Put responses in the correct input to answer the question. Select a response, navigate to the desired input and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
Consumption
Scarcity
Service
Consumer sovereignty
Production
Good

Answer 1

Consumption - Example: Buying a new laptop

Scarcity - Definition: Limited availability of resources to meet unlimited wants

Service - Definition: Intangible work provided to consumers

Consumer sovereignty - Definition: Consumers determine which goods and services are produced through their purchasing decisions

Production - Definition: Process of creating goods and services

Good - Example: Purchasing a new pair of shoes