Consumer and Producers

When people spend money to buy the things they need or want, they are called a consumer.

CONSUMER

A person who makes or grows a product (good) or provides a service is called a producer.

PRODUCER

CONSUMER AND PRODUCERS

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Producers are the people who make or grow goods.

• Farmers growing crops.

• Bakers making a cake.

• Factory workers building a car.​

Consumers are people who buy or use goods.

• Shopping for food at the grocery store.

• ​Buying baked goods.

• Shopping for a new car.​

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Examples

Services are jobs that people do for others. YOU CANNOT TOUCH THESE.

• Getting a haircut.

• Getting your nails done.

• Going to the doctor.​

WE BUY Services

Goods are things people make or grow to sell. These are some goods. YOU CAN TOUCH THESE.

• Clothes

• ​Fruits

• Cars​

WE BUY Goods

LET'S REFRESH. THERE ARE TWO WAYS TO SPEND MONEY.

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