Producers And Consumers Flashcards
(19 cards)
What is a producer?
An individual or entity that creates goods or services.
What is a consumer?
An individual or entity that purchases and uses goods or services.
What is a good?
A tangible item that is produced for sale.
What is a service?
An intangible activity performed for a fee.
What is a need?
A basic requirement for survival.
What is a want?
A desire for a specific item or service that is not essential for survival.
Name a type of industrial producer.
A producer that manufactures goods, such as factories.
Name a type of agricultural producer.
A producer that grows crops or raises animals for food.
Name a type of service producer.
A producer that offers services, such as a hairdresser.
What is an impulsive consumer?
A consumer who makes spontaneous purchases without planning.
What is a discount consumer?
A consumer who primarily seeks out sales or discounts.
What is a loyal consumer?
A consumer who consistently purchases from the same brand or company.
What is a needs-based consumer?
A consumer who purchases based on essential needs.
What is a health-conscious consumer?
A consumer who prioritizes health in their purchasing decisions.
What is an environmentally friendly consumer?
A consumer who prefers products that are sustainable and eco-friendly.
What is a socially responsible consumer?
A consumer who supports ethical practices and companies.
True or False: All goods are services.
False
Fill in the blank: A _______ is a basic requirement for survival.
[need]
Fill in the blank: A _______ is a desire for a specific item or service that is not essential for survival.
[want]
