Question

how do we participate in the market as Producers and Consumers explain with three examples

Answer 1

We participate in the market as producers and consumer. This can be examplified in following manner:-

●As a producer of goods and services we could be working in different sector of economy like agriculture, industry or services.


●As a consumer we participate in the market when we purchase goods and services that we need.


● 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.

Answer 2

Answer:

Here Is Your Answer

Explanation:

We participate in the market as producers and consumers in the following ways :

i As producers of goods and services we could be working in any of the sectors such as in agriculture industry or services.

ii Consumers participate in the market when they purchase goods and services that they need.

iii These are the final goods that people use as consumers.

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