ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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 customer is an individual or business that purchases another company’s goods or services.

Detailed explanation-3: -Consumers are people who buy goods and services.

Detailed explanation-4: -A consumer is a person or organization that purchases and uses economic services or commodities.

Detailed explanation-5: -Buyers are triggered mainly by seven underlying factors when purchasing a new product. Our motives include both necessity and convenience along with security, FOMO, identity and belonging, price, peer recommendations, obligation, fear, price, and happiness.