Meaning of terms - JSS1 Business studies Lesson Note

Consumer: A consumer is a person or entity that purchases goods or services for their own use or consumption. In simpler terms, it's anyone who buys things, whether it's groceries, clothes, electronics, or services like internet or healthcare.

Market: A market is where buyers and sellers come together to exchange goods and services. It can be physical, like a store or a bazaar, or virtual, like an online platform such as Amazon or eBay.

Society: Society refers to a group of people living together in a community, sharing common interests, values, and institutions. It encompasses various social, cultural, economic, and political aspects of human life.