Question

How do we participqte in the market as producers and consumers? Explain with examples.​

Answer 1

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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.

Answer 2

Answer:

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Explanation:

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.

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