Explain why the role of a consumer is important in an economic system, and give two examples playing the role of consumer.

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07-04-2015
Social Studies

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Explain why the role of a consumer is important in an economic system, and give two examples playing the role of consumer.

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meerabqayyum67 meerabqayyum67 · Answer 1 · 2015-04-07T18:26:23-04:00

A consumers role is important in an economic system because they are the ones who demand goods/services and the ones who buy them. It is in their control of whether buying those goods or services or not. If all the consumers or many consumers decide not to buy that good/service, it can go obsolete (no longer in the market). They are basically the ones who control the market and without them, there would be no economic system. Without the consumers buying the things they need or want, there would not be a demand for it. This affect the whole economic system.
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Explain why the role of a consumer is important in an economic system, and give two examples playing the role of consumer.

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