ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A person, company or country that makes goods and services for sale.
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A person who sells goods and profits from it.
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It is the exchange of goods and services between countries
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A person who purchases (buys) goods and services.
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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 consumer is a person or a group who intends to order, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities.
Detailed explanation-3: -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.
Detailed explanation-4: -1.2-2 Consumer of services-A person is a consumer of services if he satisfy the following criteria : 1.2-2a SERVICES ARE HIRED OR AVAILED OF-The term ‘hired’ has not been defined under the Act. Its Dictionary meaning is-to procure the use of services at a price.
Detailed explanation-5: -A customer is a person who buys either a good or a service. Customer is more common than shopper, and it is used more in business contexts than shopper is.