Customers who purchase goods and services for their own use are called ____.

• A. producers
• B. retailers
• C. consumers
• D. investors

Answer: (C)

Verified step by step guidance

1. Understand the context of the question: it asks for the term used to describe customers who purchase goods and services for their own use.
2. Recall the basic economic definitions: producers are those who create goods or services, retailers sell goods to consumers, and investors allocate resources to generate returns.
3. Identify that the term for individuals who buy goods and services for personal use is 'consumers'.
4. Recognize that consumers are the end-users in the market, distinct from producers or retailers.
5. Conclude that the correct answer to fill in the blank is 'consumers'.