Explain the term 'producer' and give two examples:
Examples:
(i)
(ii)
- Leaving Cert Business - Question 3 - 2007
Question 3
Explain the term 'producer' and give two examples:
Examples:
(i)
(ii)
Worked Solution & Example Answer:Explain the term 'producer' and give two examples:
Examples:
(i)
(ii)
- Leaving Cert Business - Question 3 - 2007
Step 1
Explain the term 'producer'
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Answer
A producer is an individual or business that manufactures goods or supplies services to consumers or other businesses. Producers play a critical role in the economy by creating products that fulfill the needs and wants of consumers. By converting raw materials into finished goods or by providing services, producers ensure that a variety of products are available in the market.
Step 2
Examples:
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Answer
Dairy products: Companies that produce milk, cheese, and yogurt, such as Dairy Farmers.
Clothing: Retail brands that manufacture or sell apparel, for example, brands like Cadbury or Tayto.
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