1.What Is your definition of needs and wants

provide of examples of needs and wants

2.

Description Goods and Services You satisfy your wants and needs by purchasing and consuming goods and services. Goods are things that you can see and touch, and are also sometimes called products. Services are activities that are consumed at the same time they are produced. Services have no physical characteristics, they are activities not things. Goods and services are purchased and consumed by businesses and consumers alike. The Four Types of Economic Resources Natural Resources (m1: These are unaltered gifts of nature. Examples are the air we breath, the land we are on, the water in rivers and the ocean, minerals, and fossil fuels. Human Resources (labor); These are the physical efforts of people to create goods and services. Examples are factory workers, teachers, cashiers, and every job you can think of. Qpital Resources (QM); These are the buildings, tools, and machines used to create other goods and services. Examples are machines in a factory, office buildings, and mechanics tools. Entrepreneurship: This is the innovative thinking, management skills, and willingness to take a risk that puts the other resources together to create something new. Examples are someone opening a new store around the corner, Jeff Bezos starting Amazon, or even you starting a babysitting or lawn mowing business