Share Identifying the Buyer and the Seller
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A person or organization who agree o purchase the finished products or services presented with the prescribed or correct features.
Buyers
A person who start a business and is willing to risk loss in order to make money.
Entrepreneur
A person or group of persons who transfer goods and services to the buyers in exchange for money.
Seller
These are the necessity of people such as food, clothing, and shelter.
Needs
A step ahead of wants. It is the amont of interest to a given product that consumers are willing to buy at a given price.
Demands
A well-known American psychologist who proposed the different levels of needs of human beings.
Abraham Maslow
These are things needed to survive such as food, water, air, sleep, clothing, and shelter.
Physiological needs
These are also important for survival but not as demanding as basic needs like healthcare and employment.
Security Needs
This include the need for belonging, love, affection, friendship, attachments, and families.
Social Needs
This include personal worth, social recognition, and accomplishment.
Esteem Needs
These are personal awareness and have less concern with the opinions of others.
Self-actualization Needs or Self-fulfillment needs
These are used clothing sold at a lower price.
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