What is the definition of a consumer?

What is the definition of a consumer?

• A. A person who purchases goods and services for personal use.
• B. An individual who provides services to businesses.
• C. A retailer who sells products to customers.
• D. A person who creates goods for sale.

Answer: (A)

The definition of a consumer refers to a person who purchases goods and services for personal use. This encapsulates the primary role of consumers in the economy, as they drive demand for products and services. Consumers make purchasing decisions based on their needs, preferences, and available resources, and their collective behavior influences market trends and the economy overall. In contrast, the other options relate to different roles within the marketplace. Individuals who provide services to businesses are generally referred to as service providers or suppliers, while retailers act as intermediaries who sell products to consumers. Lastly, those who create goods for sale are often classified as producers or manufacturers. Each of these roles is distinct and serves a unique function within the economic ecosystem, but they do not encapsulate the core definition of a consumer.

The definition of a consumer refers to a person who purchases goods and services for personal use. This encapsulates the primary role of consumers in the economy, as they drive demand for products and services. Consumers make purchasing decisions based on their needs, preferences, and available resources, and their collective behavior influences market trends and the economy overall.

In contrast, the other options relate to different roles within the marketplace. Individuals who provide services to businesses are generally referred to as service providers or suppliers, while retailers act as intermediaries who sell products to consumers. Lastly, those who create goods for sale are often classified as producers or manufacturers. Each of these roles is distinct and serves a unique function within the economic ecosystem, but they do not encapsulate the core definition of a consumer.