Consumers

Definition

Consumers are individuals or households who purchase goods and services to satisfy their wants or needs.

Related terms

Disposable Income: The amount of income left after taxes are deducted from an individual's or household's total income.

Consumer Spending: The total amount spent by consumers on goods and services within an economy during a specific period.

Demand: The desire, willingness, and ability of consumers to purchase a product or service at various prices.