Question

Explain the role of consumer on your sense of self.

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Answer 1

Consumers are the basic economic entities of an economy.the roles of consumer are given below:

1. All the consumers consume goods and services directly and indirectly to maximise satisfaction and utility.
2. consumers play a vital role in the economic system of a capitalist economy.
3. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers.
4. Consumer also plays indirect role of advertisement,as if any product meets at their expectations,they tells to many other people also.
5. All companies profit's are tottaly dependent on their consumers.That's why they are very concerned with consumer's likes or dislikes.