Question

state two differences between a consumer and producer.​

Answer 1

$\huge {\colorbox {black}{\color{yellow}{❥ \: αиѕωє༉}}}$

${\blue {\underbrace {\mathtt {\pink {Consumer}}}}}$

• A consumer is one that buys goods for consumption and not for resale or commercial purpose.
• The consumer is an individual who pays some amount of money for the thing required to consume goods and services.

${\blue {\underbrace {\mathtt {\pink {Producer}}}}}$

• A producer is someone who creates and supplies goods or services.
• Producers combine labor and capital—called factor inputs—to create—that is, to output—something else.