Question

Discuss the importance of consumer (Any two)​

Answer 1

Answer:Consumer: The consumer is the one who pays to consume the goods and services produced. As such, consumers play a vital role in the economic system of a nation. In the absence of their effective demand, the producers would lack a key motivation to produce, which is to sell to consumers.

Answer 2

Consumers are the main source of demand for all the goods. The producers of industrial goods or the producers of agricultural products are all producing the various items according to the demand in the market. ... Hence, the consumers create demand in the market and producers produce goods or services accordingly.

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