MANAGEMENT

Detailed explanation-1: -Market-meeting place or mechanism through which buyers and sellers of an economic product come together; may be local, regional, national, or global.

Detailed explanation-2: -Capital Resources (capital goods) Goods made by people and used to produce other goods and services (machines and factories).

Detailed explanation-3: -A consumer good is any good purchased for consumption and not used later to produce another consumer good. Consumer goods are sometimes called final goods because they end up in the hands of the consumer or the end-user.

Detailed explanation-4: -Examples of goods are automobiles, appliances, and clothing. Examples of services are legal advice, house cleaning, and consulting services. The output of a business can lie somewhere between these two concepts. For example, a landscaping company could sell a homeowner a tree (goods) and also mow the lawn (a service).