Answer :
Answer: brecognizing the difference between producers and consumers
Explanation:
Economics is the part of social studies that helps us for knowing the production, distribution, and consumption of goods and services to the targeted customers. it mainly focuses upon the environmental and market factor that helps in the marketing and production of goods and services.
One of the main objectives for the study of economics is to recognize the difference between the producer and the consumers.
Reason:
The main objective of economics is to determine and bifurcate the producer and consumer as they are both different.
The producer is the person who is making the finished goods from the raw materials. The producer takes the raw materials either from the market or from the farmer. The entire cost of goods is determined by the producer by the name of the direct cost of goods.
While the consumer is the final user of the produced items. The consumer is the last person in the product cycle. The consumer has to pay the entire cost and expenses being added by various parties of the product cycle.
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