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Questions and Answers
What does the term 'consumer' refer to?
What does the term 'consumer' refer to?
- Someone who promotes goods or services to potential buyers
- Someone who sells goods or services in the market
- Someone who produces goods and services for personal consumption
- Someone who pays for goods or services for personal use (correct)
Why are consumers considered vital in the economic system?
Why are consumers considered vital in the economic system?
- They regulate the prices of goods and services
- They control the production of goods and services
- They determine the demand for goods and services (correct)
- They manage the distribution of goods and services
In what instances are goods bought for 'final use' according to the text?
In what instances are goods bought for 'final use' according to the text?
- For personal use, household consumption, or as an end user (correct)
- For stockpiling and inventory management
- For resale in the market to generate profit
- For promotional activities or marketing campaigns
What is the role of an organisational consumer?
What is the role of an organisational consumer?
What does 'consumer behaviour' refer to?
What does 'consumer behaviour' refer to?
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