Consumer and producer

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Consumer

The following can act as consumers in the economy:
individuals and households
firms

Consumer The following can act as consumers in the economy: individuals and households firms (manufacturers) state
(manufacturers)
state

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Factors influencing consumer choice:

limited financial resources;
fashion;
usefulness of goods and services;
period of consumption

Factors influencing consumer choice: limited financial resources; fashion; usefulness of goods and
(non-durable and durable goods)

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Producer

individuals and households (individual production)
firms and companies
state (state and municipal

Producer individuals and households (individual production) firms and companies state (state and municipal unitary enterprises)
unitary enterprises)

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In a market economy, the manufacturer has freedom.

Producer

Labor productivity is the quantity

In a market economy, the manufacturer has freedom. Producer Labor productivity is
of goods that can be produced by workers in a given period of time.

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Relationship between consumer and producer

The exchange is a process of mutual changing

Relationship between consumer and producer The exchange is a process of mutual
of equal goods by both sides.

The following conditions should be met to implement the exchange process:
1. There should be as minimum two sides involved in the exchange process.
2. Each side should have something valuable for the counterpart.