Consumers affect which goods and services are produced because they

Question

Greenie

Business

28 July, 05:09

Consumers affect which goods and services are produced because they

+4

Answers (1)

Know the Answer?

Maximilian Archer · Answer 1

Consumers affect which goods and services are produced because they are the primary purpose why businesses offer goods and services in the first place. The market is difficult to estimate because it is highly dependent on the whims of the consumers. So, if the trend suggests that a certain type of goods is not anymore socially famous, then consumers would stop patronizing them. In the end, businesses would have to find more ways to innovate so as to keep up with the consumers' interests.