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Who is a producer? - Economic Applications

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Question

Who is a producer?

Short Answer
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Solution

A producer is a person or unit that creates and supplies goods or services. Producers can be classified into primary producers (who produce goods by exploiting natural resources), secondary producers (who manufacture goods), and tertiary producers (who provide services).

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Chapter 2: Basic Economic Entities in an Economy - QUESTION BANK [Page 24]

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J. P. Goel and Kaushal Goel Economics [English] Class 9 ICSE
Chapter 2 Basic Economic Entities in an Economy
QUESTION BANK | Q 5. | Page 24
J. P. Goel and Kaushal Goel Economic Applications [English] Class 9 ICSE
Chapter 12 Consumer Awareness
QUESTION BANK | Q 2. | Page 168
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