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Producer goods are the machinery and other equipment used in manufacturing.
Consumer goods are the final products, such as a dress or a car.
Producer goods are sold from one manufacturer to another manufacturer, or series of manufacturers, until finally consumer goods are made and sold to the customer.
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What is the difference between the situation where competition and producers exists?
two or more producers are trying to sell the same goods and service to the same consumers
What is the nature of the relationship between consumers and producers in economics?
The relationship between consumers and producers in economics is based on the exchange of goods and services. Consumers purchase products from producers, who in turn supply these goods to meet consumer demand. This interaction drives the economy and influences pricing, production, and consumption decisions.
What is the difference between a consumer and a producer substitute economics?
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.
What is the difference between a trader and a consumer?
A trader is someone who purchases or sells, voluntarily swap of goods and services. A consumer is a person, organisation or a business that buys goods and services.
What is the difference between capital goods and consumer goods?
Capital goods are items used to produce other goods or services, such as machinery or equipment, while consumer goods are products purchased by individuals for personal use, like clothing or electronics.
How are producers and consumers interdependent?
producers produce goods used by consumer and consumer pays money to producer.simple logic....
What is a producers relationship to a consumer?
Producers are the ones who creates or produce goods and services that must meet the consumer's expectations.
Difference between consumer goods and consumer product?
Both are same. They are, 1.Convenience goods 2.Unsought-ed goods 3.shopping goods 4.Specialty goods
What is the difference between the situation where competition and producers exists?
two or more producers are trying to sell the same goods and service to the same consumers
What is the nature of the relationship between consumers and producers in economics?
The relationship between consumers and producers in economics is based on the exchange of goods and services. Consumers purchase products from producers, who in turn supply these goods to meet consumer demand. This interaction drives the economy and influences pricing, production, and consumption decisions.
What is the difference between a consumer and a producer substitute economics?
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.
What is the difference between a trader and a consumer?
A trader is someone who purchases or sells, voluntarily swap of goods and services. A consumer is a person, organisation or a business that buys goods and services.
What is the difference between capital goods and consumer goods?
Capital goods are items used to produce other goods or services, such as machinery or equipment, while consumer goods are products purchased by individuals for personal use, like clothing or electronics.
What is the role of the consumer in capitalism?
Consumers spend money and buy goods from producers
What dictates which goods and services producers should or should not create?
Consumer choices
What does a producer depend on a consumer for?
Producers make goods/services and depend on the consumer to buy them so they can make money and continue making more goods/services.
What is the difference between capital and consumer goods?
Capital goods, are goods used in production. Consumer goods are for the final consumer, as a person. For example, a machine that makes pins is a capital good, because a pin factory will buy it. But pins is a consumer good, because a person will buy it. A combine harvester is a capital good, but the bread is a consumer good.
