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A consumer substitute refers to two goods that are alternative choices for a consumer for example Coke and Pepsi.
A producer substitute refer to products that are alternative choices for producers and could have been produced using the same resources for example wheat and barley.
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What is the difference between consumer and producer in economics?
The producer supplies good and services and the consumer demands them.
Consumer surplus and producers surplus?
Consumer surplus - the difference between what a consumer is willing to pay and what they actually pay. Aggregate consumer surplus measures consumer welfare. Producer surplus - the difference between what a producer is willing to sell their product for and what they actually receive. Aggregate producer surplus measures producer welfare
What are the differences between producers and consumers?
The difference between a producer and a consumer is that a producer makes his own food and consumer purchases his own food.
In economics what does market mean?
Is one of many varieties of systems between consumer and producer
What are the Important topics of class 12th economics?
consumer & producer's equilibrium, supply&demand,national income & aggregates,determination
What is the difference between consumer and producer in economics?
The producer supplies good and services and the consumer demands them.
Consumer surplus and producers surplus?
Consumer surplus - the difference between what a consumer is willing to pay and what they actually pay. Aggregate consumer surplus measures consumer welfare. Producer surplus - the difference between what a producer is willing to sell their product for and what they actually receive. Aggregate producer surplus measures producer welfare
What is the difference between a producer and a consumer in an ecosystem?
A producer makes products while the consumer uses or really consumes them
What is a difference between producer consumer and predator?
preaditores are fidel and consumer are spre
What is the opposite of produser?
In economics, the opposite of a producer is a consumer. A producer makes a product, and a consumer uses the product that the producer makes. Both parts are essential to virtually all economic systems, regardless of how each part of the system is treated.
Is a pollack a producer or consumer?
is a pollack a producer, or a consumer
What are the differences between producers and consumers?
The difference between a producer and a consumer is that a producer makes his own food and consumer purchases his own food.
In economics what does market mean?
Is one of many varieties of systems between consumer and producer
Is a slug producer or consumer?
It is a consumer.
What are the Important topics of class 12th economics?
consumer & producer's equilibrium, supply&demand,national income & aggregates,determination
What are the goals of micro economics?
The goals of micro economics are- 1.To analyze the demand and supply of a commodity or service. 2.To analyze consumer behaviour. 3.To analyze the producer behaviour.
Is a rosette plant a producer or consumer?
no
