BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS ECONOMICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A person who buys goods or services for personal use is called a ____ Someone who makes goods or provides services is called a ____
A
Service; Good
B
Good; Service
C
Consumer; Producer
D
Producer; Consumer
E
Cost; Benefit
Explanation: 

Detailed explanation-1: -The correct option is C consumer. A consumer is a person who purchases and uses goods and services by paying or agreeing to pay a price for them. A consumer is one who is the decision maker whether or not to buy an item at the store, or someone who is influenced by advertisement and marketing.

Detailed explanation-2: -A consumer is a person who purchases/buys any goods or services for his personal use that is not for further selling them or manufacturing.

Detailed explanation-3: -A consumer is the one who purchases the product for his/her own need and uses or consumes it. A consumer cannot resell the good, product or service but can consume it to earn his/her livelihood and self-employment. Definition of consumer. The consumer is the one who is the end-user of any goods or services.

Detailed explanation-4: -Producer → Customer (Zero-level Channel) The producer sells the goods or provides the service directly to the consumer with no involvement with a middle man such as an intermediary, a wholesaler, a retailer, an agent, or a reseller.

Detailed explanation-5: -When people make goods and services, goods and services, goods and services-when people make goods and services, they are producers. When they use the things produced, the things produced, the things produced-when they use the things produced, they are consumers.

There is 1 question to complete.