ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Definition: A producer is someone who creates and supplies goods or services. Producers combine labor and capital-called factor inputs-to create-that is, to output-something else. Business firms are the main examples of producers and are usually what economists have in mind when talking about producers.

Detailed explanation-2: -Producers are sellers. Producers are people or companies that make goods. Producers can also provide services. Producers sell their goods or services.

Detailed explanation-3: -a person who makes the practical and financial arrangements needed to make a film, play, or television or radio programme: a Hollywood/movie producer. Compare. director (FILM MAKER)

Detailed explanation-4: -People who make or sell things are called producers. Producers sell goods they grow or make. Farmers are producers when they sell the fruits and vegetables they grow. A toy company is a producer when it sells the toys it makes.

Detailed explanation-5: -Producers are people who make or grow goods and provide services. Sometimes they are called workers, and they help us do things. For example, a florist is a producer who makes pretty bouquets. A baker is a producer who cooks up yummy cakes, and a painter is a producer who creates artwork for us to admire.