Responses
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.
Consumers dictate the prices of goods and services.
Consumers’ needs and wants dictate what goods and services producers provide.
1 answer
The statement that is true about consumer sovereignty is:
Consumers’ needs and wants dictate what goods and services producers provide.
Consumer sovereignty refers to the idea that consumers ultimately dictate what goods and services are produced in an economy through their purchasing decisions.
