A producer.
1. What goods and services should be produced? (goverment,producer, consumer) 2. How should these goods and services be produced? (goverment, producer, consumer) 3. For whom should the goods and services be produced?(goverment, producer, consumer)
The producer supplies good and services and the consumer demands them.
supply
primary producer is the individual or buiness that takes raw materials and converts it into a usable good for consumer use.
A person, company, or business that makes goods or provides services for consumers is commonly referred to as a "provider" or "supplier." These entities are responsible for producing, manufacturing, or offering products and services that meet consumer demand and fulfill specific needs or desires. Providers can range from small-scale individual artisans to large multinational corporations, and they play a crucial role in the economy by contributing to the production and distribution of goods and services to consumers.
Consumer Buying Behavior * Buying behavior of individuals and households that buy products for personal consumption
producer
consumer- Purchasing goods and services producers-Providing goods and services worker-Making goods and services
Discussion of areas of market failure. This will be expressed in general terms - syllabus mentions the government as a producer of goods and services but does not deal with public and merit goods.
Producers make goods/services and depend on the consumer to buy them so they can make money and continue making more goods/services.
Private costs are the expenses of a supplier or producer. They are the costs incurred in provision of services or products.