Question
Consumer’s sovereignty means:
Answer: Option B
Answer: (b)
Consumer sovereignty means that buyers ultimately determine which goods and services remain in production.
In unrestricted markets, those with income or wealth are able to use their purchasing power to motivate producers. So ultimately it means how the consumers want to spend their incomes.
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Answer: (b)
Consumer sovereignty means that buyers ultimately determine which goods and services remain in production.
In unrestricted markets, those with income or wealth are able to use their purchasing power to motivate producers. So ultimately it means how the consumers want to spend their incomes.
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