Identify producers and consumers in an exchange
The idea
A producer makes or supplies a good or service.
Step by step
- A producer makes or supplies a good or service.
- A consumer buys or uses the good or service.
- The same person can have different roles in different exchanges.
Example
A baker makes bread to sell. What role does the baker have when supplying that bread?
Answer
producer
The baker produces a good for customers.
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Draw one exchange with a producer on one side and a consumer on the other. Label what is supplied.
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