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Decribe the role played by the producers in an economic system, an give two examples of...

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nishaash | Student, Undergraduate | eNotes Newbie

Posted June 8, 2010 at 8:42 AM via web

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Decribe the role played by the producers in an economic system, an give two examples of someone being a producer.

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted June 8, 2010 at 8:52 AM (Answer #1)

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Producers play a huge role in any economic system.  This is because producers are the entities who are involved in making goods and services.  We generally say that producers include privately owned firms and the government.  This means that any firm or government agency that produces goods or service is a producer.

Some examples of producers are Microsoft and this website.  Microsoft is a huge producer that creates software for people to use on computers.  eNotes is not huge, but it creates a service that people (you) use.

Producers are also important in the economic system because they are the ones that employ workers.  This means that they create goods and services for others to buy and they pay workers who will then be able to buy goods and services from various producers.

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