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thank you, come again!
Froogle 1.1.1.7
Froogled By:
Elias Makere, FSA, MAAA
Last Froogled:

CONSUMER

1. someone who uses a product/service for personal/familial/household purposes. A distinguishing characteristic of a consumer is that he/she has provided nonpublic information to the producer/merchant.
note: someone can still be classified as a consumer even if he/she has not [yet] acquired the product/service. In other words, a prospective consumer (eg, an insurance applicant) is still a consumer.
2. in general economics, an individual who buys goods & services for personal use (rather than for manufacturing/re-selling). It has been said that the consumer is the last person to whom property passes [in the course of ownership]; and that this is the test of a retail transaction.
Congratulations! You're now Froogled Up™ on what "Consumer" means!

Feel free to use it throughout your financial/insurance life.

Sincerely,



www.FroogleMe.com
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