Colin O’Dowd

Wants- things that add comfort to your life IPod TV Xbox

Needs – things that are required to live Water Food House

Goods Things that you can see and touch

Food TV Computer

Services Activities that are consumed at the same time

they are produced. Have no physical characteristics. Pedicure Haircuts

-Raw materials supplied by Nature Wind Water Oil Soil Rivers Lakes Mines

People producing goods and services Farmers Truck Drivers Factory Workers

Products and money used in production of goods and services Buildings Equipment Supplies