Question

Who is a consumer?

Answer 1

A consumer is one who consumes goods manufactured and sold by others or created (air, water, natural resources) by nature and sold by others.

Answer 2

The term ‘Consumer’ comes from the Latin word ‘Consumere’, which means to eat or drink. A consumer is an individual who uses goods or services available from nature or the market. Essentially, a consumer is any person who purchases goods or avails of services for a price that has been paid or is promised to be paid, either in whole or in part, or through an instalment system. In everyday life, we are all consumers whenever we use products such as grains or milk, or services like banking, railways, postal services, or healthcare facilities.