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: -Consumers are defined as individuals or businesses that consume or use goods and services. Customers are the purchasers within the economy that buy goods and services, and they can exist as consumers or alone as customers.

Detailed explanation-3: -The people who purchase goods and services in the economy are collectively called Consumers. The consumers are the entities that intend to purchase commodities and services sold by the sellers in a market structure at a specific price level. The consumers can be individuals from households or enterprises.

Detailed explanation-4: -Consumers are people who buy goods and services.

Detailed explanation-5: -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.