Which of the following statements about consumer sovereignty is true?(1 point) Responses 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. 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.

Answer 1

Consumers’ needs and wants dictate what goods and services producers provide.