Question

Which statements accurately describe the roles of producers and consumers? Check all that apply. Producers make and sell things. Consumers buy goods and services. Producers buy goods and services. Consumers make and sell things. Producers provide services to consumers.

Answer 1

The correct answers would be options A, B and E.

Producers make and sell things.

Consumers buy goods and services.

Producers provide services to the consumers.

Explanation:

A producer can be an individual, a company or a country, which grows or makes goods to be used by other individuals, companies or countries.

A consumer can be an individual, company or a country, which uses the products or services provided by the producers or service providers in exchange of money for their product or service.

Producers manufacture their products and sell it to the consumers to generate profits for themselves. Consumers buy products from the producers in exchange of money to be used by themselves. Producers may also provide services to the consumers.

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Answer 2

The correct answers are A. Producers make and sell things, B. Consumers buy goods and services and E. Producers provide services to consumers.

Explanation

A producer is a term used to refer to individuals or companies that are dedicated to producing a good or providing a service. On the other hand, a consumer is a term used to refer to individuals or groups that access products offered by producers. These two are related in several ways, for example, producers specialize in producing or offering solutions for the needs of consumers, who interact with producers because they agree to buy the products offered by them to facilitate daily tasks and their needs. So, the correct answers are A. Producers make and sell things, B. Consumers buy goods and services and E. Producers provide services to consumers.