GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A person who buys goods or services for personal use is called a ____ Someone who makes goods or provides services is called a ____
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Service; Good
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Good; Service
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Consumer; Producer
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Producer; Consumer
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Cost; Benefit
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Explanation:
Detailed explanation-1: -Any individual who purchases products or services for his personal use and not for manufacturing or resale is called a consumer. 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 people who buy or use goods and services to satisfy their wants. When you eat your dinner, you will be a consumer.
Detailed explanation-3: -A vendor, also known as a supplier, is a person or a business entity that sells something.
There is 1 question to complete.