Choose whether the given statement is True or False:

A consumer is a person who buys any product from the market and consumes it.

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True

False

answer is A.

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Detailed Solution

This statement is true.
Consumers can go to a shop and directly buy the goods from the sellers who are referred to as retailers. Retailers help in providing a link between the consumer and producers. Furnishing this link is essential because consumers can directly buy goods from the product as they only sell things in bulk. So wholesalers buy the products in bulk and sell them to retailers. And at last, we avail the products. In today's time, markets are full of all types of shops as well as sellers. At every corner, we can easily find a shop. It has resulted in easy access. Even in our neighbourhood area, several shops are established to provide services to people in times of emergency.

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