CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
19
You visited us 19 times! Enjoying our articles? Unlock Full Access!
Question

Who is a Consumer?

Open in App
Solution

Any individual who purchases products or services for his personal use and not for manufacturing or resale is called a consumer. A consumer is one who is the decision maker whether or not to buy an item at the store, or someone who is influenced by advertisement and marketing. Every time someone goes to a store and buys a shirt, toy, beverage or anything else, they make a decision as a consumer.Consumer refers to any person who purchases some goods for a consideration that has been either paid or promised to pay or partly paid and partly promised.

According to the Act, a consumer’s definition is who:
  • buys goods or hires any service
  • uses the goods or hires any service with the approval of any buyer or service provider
  • uses goods and services to earn a livelihood by self-employment.

flag
Suggest Corrections
thumbs-up
3
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
What is a Market?
CIVICS
Watch in App
Join BYJU'S Learning Program
CrossIcon