Consumers can be an individual, household, or specific group of people who utilize specific goods and services. This is a very broad category of individuals, and everyone at some point in time fits into this category.
Consumers are individuals who exchange money for particular goods or services. For example, a person who buys a coffee at the local Dunkin Donuts every day can be considered a consumer. This is because this individual is purchasing a good from the company in exchange for money.
Consumers do not have to buy physical objects; they can also be the recipients of services. For instance, anyone who has a television and contract with a television service can be considered a consumer. They are paying a monthly fee in order to be provided with television programming.
When it comes to businesses, consumers are often the most important part of the industry. This is because the consumer is the person who is going to purchase the product or use the service. The market has to be made accessible and appealing to people in order for the business to be successful.
However, a consumer has a number of rights under the law and the various companies have to make sure that while they are attempting to entice individuals into buying their products, they are also making sure to operate within the legal rights of the consumers.
In the United States a consumer can be a singular body or an entire household, while in other nations the title of consumer is reserved only for individual people.