Question

A ______ is someone who creates and supplies goods or services.

Options

• producer

• consumer

• both producer and consumer

• neither producer nor consumer

Answer 1

A producer is someone who creates and supplies goods or services.

Explanation:

A producer is someone who creates and supplies goods or services. Producers engage in the production process and make goods or services available in the market. On the other hand, consumers are those who purchase and use these goods and services. Hence, a producer is the person responsible for the creation and supply of goods or services, not a consumer.