Responses
Consumers’ needs and wants dictate what goods and services producers provide.
Consumers’ needs and wants dictate what goods and services producers provide.
Conditions where buyers and sellers are willingly engaging in market transactions.
Conditions where buyers and sellers are willingly engaging in market transactions.
Influence of consumers over government rules regulate the marketplace.
Influence of consumers over government rules regulate the marketplace.
Consumers dictate the prices of goods and services.
1 answer
The true statement about consumer sovereignty is:
Consumers’ needs and wants dictate what goods and services producers provide.
Consumer sovereignty refers to the idea that consumers have the power to influence what is produced in the economy based on their preferences and purchasing decisions.
