Question

Give the difference between producers and consumer

Answer 1

Answer:

•Producers are the one who converter the raw material into finished and semi-finished goods with the investments of the 4 M'S that is Man, Machine, Money and Material; lieu of earning profit and business growth.

•The consumer is the one who utilities the potential of the goods and services while spending a particular sum of money to satisfy wants and desires.

Both are the important parties of the economy for the balanced working of the business.