People whose wants are satisfied by using goods and services are called?

• A. Users
• B. Buyers
• C. Consumers
• D. Customers

Answer: (C)

Think about who ultimately gets value from goods and services by using them to satisfy wants. The person who uses what they buy to meet their needs is the consumer—the end user who derives satisfaction from consumption. In economics and marketing, a consumer is the individual or household that actually uses goods and services to fulfill wants. A buyer is the one who pays to obtain items and may or may not be the user. A customer is someone who purchases from a specific seller and, again, isn’t necessarily the person who uses the product. A user can overlap with a consumer, but the broader idea of satisfying wants through consumption is captured by the term consumer.