It is a matter of great importance to know and understand about the consumers, producers, and budget seekers. These three characters are all related to economics. You might have gained basic understanding about the supply and demand including the price. What about consumers, producers, and budget seekers? It is also closely related to supply and demand.
Consumers. Who are the consumers? Those who use various kinds of resources are known as consumers. Even if there are a lot of resources around us, it is still limited. Where do we usually find consumers? They are always found in market places, department stores, malls, shops, and parks. In other words, they are found everywhere.
Producers.Who do you think make the products found in market places? They are the producers or also known as manufacturers. Our resources are limited. However, thanks to the producers or manufacturers because they continually find and make a way to produce valuable needs that fits the taste of a consumer or buyer.
Budget Seekers. They are also consumers. However, they are also known as being meticulous. At a market place, especially in a public market, you can always see a budget seeker. They always look for products which is enough for their budget and sometimes, they are also known as wise customers. Usually, a budget seeker looks for discounted items or those “on sale” items. A wise customer always make sure that the product he or she buys is of good quality and it is of good price which is right for his budget.
Each person belongs to one of these characters.