INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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False
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True
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Either A or B
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None of the above
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Detailed explanation-1: -A customer becomes a consumer if they make a purchase and use the product or service themselves. A customer always purchases a product or service, but might not be the end user. A consumer is always the end user of a product or service, but might not have purchased it.
Detailed explanation-2: -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-3: -Customer is the one who is purchasing the goods. Consumer is the one who is the end user of any goods or services. Consumers are unable to resell any product or service. Customers need to purchase a product or service in order to use it.
Detailed explanation-4: -Consumer: someone who uses/ consumes the product. Customer: commonly used for consumer of service e.g. broadband, airlines. Buyer: someone who pays for the product/ service, he/ she may or may not be the user.