Use app×
QUIZARD
QUIZARD
JEE MAIN 2026 Crash Course
NEET 2026 Crash Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
297 views
in Business Studies by (27.7k points)
closed by

What do you mean by Consumer?

1 Answer

+1 vote
by (25.8k points)
selected by
 
Best answer

A consumer is the final user of goods or services produced in an economy. He may be an individual, a household or even a group within an economy. In other words, consumers are all individuals who use goods with the approval of the seller; but, not for resale or commercial purposes. 

As per the Consumer Protection Act, a consumer is defined as follows: 

• Any individual who purchases any good for a consideration, which he has paid for or promised to pay; partly paid and partly promised or promised to pay in instalments. It includes all individuals who use the goods with the approval of the seller. However, those individuals who purchase the goods for the purpose of resale or for commercial purposes are not considered as consumers.

• Any individual who avails any service or hires a service for which he has paid or promised to pay; partly paid and promised to pay the remaining part. It includes all individuals who have availed the service with the approval of the seller and not includes people who avail services for commercial purposes.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...