Final answer:
Suppliers are crucial for businesses as they provide the necessary inputs, such as raw materials, labor, and machinery, which are vital for the production of goods and services.
Step-by-step explanation:
Suppliers make a wide variety of raw materials, labor and other critical assets available to firms. They are essential to businesses as they provide the necessary inputs and resources such as labor, materials, and machinery that are used to produce goods and services; these are also known as factors of production. In the context of markets, there are different interactions such as households offering their labor to businesses in the Resource Market and purchasing goods and services in the Product Market.