Question

What is the economic term for reliance on others to produce goods and services

Answer 1

Question:

• What is the economic term for reliance on others to produce goods and services?

Answer:

• 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. ... Households and individuals are producers of non-market goods and services such as cleaning, child-rearing, cooked food, etc.