Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Introduction to Statistics

Question:

Match the Following.

Example Description
1. Doctor A. Seller
2. Construction Worker hired by a firm B. Producer
3. A person purchasing bread C. Employee
4. A shopkeeper D. Consumer
Options:

1-A, 2-B, 3-C, 4-D

1-B, 2-C, 3-D, 4-A

1-A, 2-C, 3-D, 4-B

1-B, 2-D, 3-C, 4-A

Correct Answer:

1-B, 2-C, 3-D, 4-A

Explanation:

The correct answer is Option 2:1-B, 2-C, 3-D, 4-A

Example Description
1. Doctor B. Producer (of services)
2. Construction Worker hired by a firm C. Employee
3. A person purchasing bread D. Consumer
4. A shopkeeper A. Seller

When you buy goods (you may want to satisfy your own personal needs or those of your family or those of any other person to whom you want to make a gift) you are called a consumer.

When you sell goods to make a profit for yourself (you may be a shopkeeper), you are called a seller.

When you produce goods (you may be a farmer or a manufacturing company),or provide services (you may be a doctor, porter, taxi driver or transporter of goods) you are called a producer.

When you are in a job, working for some other person, and you get paid for it (you may be employed by somebody who pays you wages or a salary), you are called an employee.

When you employ somebody, giving them a wage, you are an employer.