IGNOU ACS 1 2018 - Discuss the role of ‘Consumer in Market Economy’.

Question

Discuss the role of ‘Consumer in Market Economy’.

06 Mar 2018

Answer :

Word Count : 192

The role of a consumer (or of consumers in general) is important in an economic system because it is consumers who demand goods and services. When they do this, they make it so that other people can have jobs making the goods and services the consumers want.

You can see how important consumers are by looking at our own economy today. Consumer spending on goods and services makes up close to 70% of the GDP of the

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