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.
Consumers dictate the prices of goods and services.
Consumers dictate the prices of goods and services.
Influence of consumers over government rules regulate the marketplace.
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 ultimate power in the market by determining what goods and services are produced based on their preferences and spending choices.
