Social Sciences, asked by ritha05, 1 year ago

who are producers and consumers in economics​

Answers

Answered by Anonymous
4

hey mate...

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. Business firms are the main examples of producers and are usually what economists have in mind when talking about producers.

A consumer is the one who pays something to consume goods and services produced. As such, consumers play a vital role in the economic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers.

hope this helped u ....✌


ritha05: but i want it in brief answer for 1 page
ritha05: pls send me fast
Similar questions