What is the role of consumers?

Consumers determine what goods and services are produced

Consumer buys economic goods according to their individual demand, entrepreneurs and businesses observe these purchases and develop goods and services to meet this demand

Consumers provide information about habits, trends and preferences

People come up with new ideas that seek to distrupt the market, entrepreneurs and business people carry out market research to ask consumers about their habits, trends and preferences so that they can make products and offer services that meet that market need or want

Consumers pay for economic goods that they demand

Consumer pays for the products they demand, gives money to the supplier, the supplier can then buy more products, take on new sustainable staff, generate income for themselves-the business can create wealth, employment and economic growth

What is the role of consumers?

Consumers determine what goods and services are produced, consumers provide information about habits, trends and preferences, consumers pay for economic goods that they demand