The term ‘Consumer can be applied to an individual or an organization.
a) Explain the term ‘ consumer’ clearly differentiating it from customer and client
b) Discuss the differences between Individual consumers and organizational Consumers
c) There are two motives that influence consumer purchases. Identify the motives and explain each one of them.
d) Welfare Economics helps us to understand Consumer surplus and producer surplus. State the differences between Consumer and Producer Surplus
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