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What do you call a person who uses resources to make goods and provide services?
A producer.
What are the characteristics of services compared with goods?
Goods are a tangible item where services are not tangible that provide a value to a consumer.
When might it be desirable for a government to act as producer of goods and services with regards to economics?
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.
Match each role with the action performed by people playing that role.?
consumer-provide labor and investment producer-provide individual goods government-provide public goods
What two factors determine what is offered for sales in a market economy?
In a market economy, the two primary factors that determine what is offered for sale are consumer demand and producer supply. Consumer demand reflects the preferences and purchasing power of buyers, indicating what they want and are willing to pay for. Producer supply represents the willingness and ability of sellers to provide goods and services based on costs, resources, and potential profits. The interaction between these factors shapes the types and quantities of products available in the market.
What is the relationship between a consumer and a producer?
A consumer is an individual or organization that purchases goods or services produced by a producer. Producers create products or services to meet the demand of consumers, who in turn provide revenue for the producers. The relationship between consumers and producers is essential for the functioning of a market economy.
Is a lion a producer or consumer?
A live lion is a consumer. When it dies, its body sort of becomes a producer as it returns to the soil to provide nutrients to plants and bugs - or gets eaten by other consumers.
What do you call a person who uses resources to make goods and provide services?
A producer.
How producers differ from consumer?
A producer is always at the beginning of a food chain. A producer will always be a plant. A primary consumer eats the producer. The secondary consumer eats the primary consumer. The scavenger comes next (if it gets there before the decomposer.) The decomposer will always be last. Example: (where there is a scavenger) grass --> rabbit --> fox --> vulture --> mushroom producer, primary consumer, secondary consumer, scavenger, decomposer
How do producers differ from consumers?
A producer is always at the beginning of a food chain. A producer will always be a plant. A primary consumer eats the producer. The secondary consumer eats the primary consumer. The scavenger comes next (if it gets there before the decomposer.) The decomposer will always be last. Example: (where there is a scavenger) grass --> rabbit --> fox --> vulture --> mushroom producer, primary consumer, secondary consumer, scavenger, decomposer
What do producers provide for consumers?
Food is what producers provide for consumers. An example of a producer is a plant, such as the tomato. An example of a consumer is a deer or a person. The producer produces the product, which the consumer consumes.
What types of advice do consumer debt services provide?
Consumer debt services provide advice on how to deal with debt that is becoming a problem. These advice services can sometimes intercede with lenders and help negotiate lower repayment amounts.
Is a wasp a consumer or a producer?
Wasp is a producer.
According to the circular flow model which of the following do producers provide to consumers?
wages APEX
What are the characteristics of services compared with goods?
Goods are a tangible item where services are not tangible that provide a value to a consumer.
How do consumer groups benefit consumers?
The company can stay in business to provide services.
Can a business provide business and consumer services?
If so, can you list a few examples?
