The role of buying goods and paying for services in an economy is primarily held by consumers, also known as private individuals or households. Consumers purchase goods and services to meet their needs, providing the financial demand that drives economic activity. They pay money to companies that produce these goods and services, which enables companies to cover costs and make profits. This exchange is a fundamental part of the economic cycle where households, companies, and the state interact through money and goods/services exchanges.

In organizational or business contexts, the person responsible for deciding on spending money for purchases is called the economic buyer. This role often belongs to a budget owner such as a CFO, CEO, or departmental manager who controls financial resources and approves purchases. This economic buyer is distinct from the general consumers in the market and is key in business-to- business transactions.

Summary

• Consumers (households) have the primary role in buying goods and paying for services in the overall economy.
• Economic buyers are individuals within organizations with authority over spending and purchase decisions for business needs.

Thus, in a broad economic sense, the consumers fulfill the role of buying and paying for goods and services. In a business organizational context, this role is more specifically assigned to the economic buyer who manages purchase decisions within the company.