Consumers are individuals or households who purchase goods and services to satisfy their wants or needs.
Think of consumers as hungry students at lunchtime. They go to different food stalls (businesses) with money (income) to buy food (goods and services) to fulfill their hunger.
Disposable Income: The amount of income left after taxes are deducted from an individual's or household's total income.
Consumer Spending: The total amount spent by consumers on goods and services within an economy during a specific period.
Demand: The desire, willingness, and ability of consumers to purchase a product or service at various prices.
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