Question

Discuss the role of ‘Consumer in Market Economy’​

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

Answer:

ʜᴇʀᴇ ɪs ʏᴏᴜʀ ᴀɴsᴡᴇʀ ⬇️

Explanation:

ᴛʜᴇ ᴄᴏɴsᴜᴍᴇʀ ɪs ᴛʜᴇ ᴏɴᴇ ᴡʜᴏ ᴘᴀʏs ᴛᴏ ᴄᴏɴsᴜᴍᴇ ᴛʜᴇ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ᴘʀᴏᴅᴜᴄᴇᴅ. ᴀs sᴜᴄʜ, ᴄᴏɴsᴜᴍᴇʀs ᴘʟᴀʏ ᴀ ᴠɪᴛᴀʟ ʀᴏʟᴇ ɪɴ ᴛʜᴇ ᴇᴄᴏɴᴏᴍɪᴄ sʏsᴛᴇᴍ ᴏғ ᴀ ɴᴀᴛɪᴏɴ. ɪɴ ᴛʜᴇ ᴀʙsᴇɴᴄᴇ ᴏғ ᴛʜᴇɪʀ ᴇғғᴇᴄᴛɪᴠᴇ ᴅᴇᴍᴀɴᴅ, ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴇʀs ᴡᴏᴜʟᴅ ʟᴀᴄᴋ ᴀ ᴋᴇʏ ᴍᴏᴛɪᴠᴀᴛɪᴏɴ ᴛᴏ ᴘʀᴏᴅᴜᴄᴇ, ᴡʜɪᴄʜ ɪs ᴛᴏ sᴇʟʟ ᴛᴏ ᴄᴏɴsᴜᴍᴇʀs.