What is the difference between a consumer and a producer?

Question

Responses

A consumer creates goods, while a producer provides services.
A consumer creates goods, while a producer provides services.

A consumer makes goods that can be sold, while a producer purchases goods and services.
A consumer makes goods that can be sold, while a producer purchases goods and services.

A producer makes goods that can be sold, while a consumer purchases goods and services.
A producer makes goods that can be sold, while a consumer purchases goods and services.

A producer uses resources to meet wants, while a consumer uses resources to meet needs.

Answer 1

The correct statement is:

A producer makes goods that can be sold, while a consumer purchases goods and services.

In economic terms, producers are individuals or businesses that create goods or services, whereas consumers are those who buy or use those goods and services.