Question

What is the term used for the person who buys and uses goods or services from the market after making a payment?

• A. Moneylender
• B. Service provider
• C. Consumer
• D. Producer

Answer 1

The correct option is C Consumer

Consumers participate in the market by purchasing goods and services that they need. For example, Mr. Ritvik buys a toothpaste from the supermarket to use it at home. Here, Mr. Ritvik is a consumer.