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’ needs and wants dictate what goods and services producers provide.
Consumers’ needs and wants dictate what goods and services producers provide.
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 ultimately determine what goods and services are produced in an economy based on their preferences and purchasing decisions.
