ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -What are producers and consumers? Consumers buy goods and services to satisfy their wants, and producers make goods and services. This video from the Explore Economics series for kids helps them understand that people are both consumers and producers. It uses easy-to-understand examples.

Detailed explanation-2: -Humans are classified as consumers. Consumers are organisms that feed on living organisms from the food chain. Consumers can be herbivores, carnivores, omnivores, or decomposers.

Detailed explanation-3: -People buy and sell goods and services every day. People who buy or use things are called consumers. People who make or sell things are called producers.

Detailed explanation-4: -In addition, pitcher plants trap and consume insects to fulfill their nutrient requirements. Hence pitcher plant is both a producer and consumer.