how do we participate in the market as Producers and Consumers explain with three examples
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We participate in the market as producers and consumer. This can be examplified in following manner
(i) As a producer of goods and services we could be working in different sector of economy like agriculture, industry or services.
(ii) As a consumer we participate in the market when we purchase goods and services that we need.
(iii) For example, if we cultivate crops or manufacture cars or run a school we act as producer but when we purchase food grain from market, or buy car or went to a doctor as patient then we act as consumer.
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