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This refers to the person for whom the goods or products have been made and who pays money to buy and use them.
- a)Consumer
- b)Producer
- c)Consumption
- d)Expenditure
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
This refers to the person for whom the goods or products have been mad...
The correct answer is A. Consumer.
Explanation:
A consumer is an individual or entity that purchases or uses goods or products. They are the end users who pay money in exchange for these goods or services. Here are some key points to understand:
- Consumer: The consumer is the person or entity for whom the goods or products are made. They are the end users who buy and utilize the products. Consumers can be individuals, households, or businesses.
- Producer: The producer is the entity or individual who manufactures or creates the goods or products. They are responsible for producing and supplying the goods to the market for consumers to purchase.
- Consumption: Consumption refers to the act of using or consuming goods or services. It is the process by which consumers utilize the products they have purchased.
- Expenditure: Expenditure refers to the money spent by consumers to purchase goods or services. It represents the financial outlay made by consumers in order to acquire the desired products.
In this context, the person who pays money to buy and use the goods is the consumer. They are the ones for whom the products are made, and they play a crucial role in driving the demand for goods and services in the market.
Community Answer
This refers to the person for whom the goods or products have been mad...
Let's understand this with an example.
A company makes Biscuits. The company is PRODUCER
You buy the Biscuits by paying money. You are the CONSUMER.
A company makes Biscuits. The company is PRODUCER
You buy the Biscuits by paying money. You are the CONSUMER.
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This refers to the person for whom the goods or products have been made and who pays money to buy and use them.a)Consumerb)Producerc)Consumptiond)ExpenditureCorrect answer is option 'A'. Can you explain this answer?
Question Description
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