ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A baker is a producer who cooks up yummy cakes, and a painter is a producer who creates artwork for us to admire. Doctors, hair stylists, landscapers, and mechanics are producers.

Detailed explanation-2: -The image of the baker, from the beginning of the lesson, is an example of a producer. The baker performs the service of making cakes, cookies, and bread. The cakes, cookies, and bread he makes are examples of goods.

Detailed explanation-3: -For example machinery, tools, raw materials, seeds, manure and tractor etc are all example of producer goods. Raw materials, power, fuels etc. used by the producers for further production of final goods and services are also called intermediate goods.

Detailed explanation-4: -Producers, also called autotrophs, include plants, bacteria, and algae. Plants get energy from the sun and turn it into food, a sugar called glucose. This process is called photosynthesis.

Detailed explanation-5: -A producer is a living thing that makes its own food from sunlight, air, and soil. Green plants are producers who make food in their leaves. A consumer is a living thing that cannot make its own food. Consumers get their energy by eating food.