Who is defined as an individual who purchases goods or services that are not for resale?

The distinction of a consumer in this context is crucial to understanding economic transactions. A consumer is an individual who buys goods or services primarily for personal use and not for resale. This status highlights the final point in the supply chain where the goods are utilized rather than being further marketed.

For instance, when someone purchases a new phone or books, they are acting as a consumer, enjoying the products rather than planning to sell them onward. This definition applies universally, emphasizing the role of consumers in driving demand for various goods and services in the marketplace.

In comparison, a retailer purchases goods intending to sell them to consumers, whereas a merchant typically engages in buying and selling goods, often involving resale or trade. A distributor focuses on the supply chain aspect, moving products from manufacturers to various points of sale but does not directly engage in consumption. Understanding these roles clarifies why the term "consumer" is the appropriate classification in this scenario.