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a role of consumer as ruler of the market when determining the types of ggods and services produced

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11y ago
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6mo ago

Consumer sovereignty refers to the idea that consumers have the power to determine which goods and services are produced based on their preferences and purchasing decisions.

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Q: What is a sentence with consumer sovereignty?
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Related questions

There is consumer sovereignty in a capitalist economy?

yes there is ..... consumer sovereignty is when the consumers are in control of what is produce for example the U.S.


Why is consumer sovereignty considered an advantage?

Consumer sovereignty is an advantage because it is the consumers who determine the services and goods produced.


How many conditions are in consumer sovereignty?

5


What is the idea of consumer soverignty?

The supremacy of the consumer in selecting and consuming any type of goods and services on the basis of his own tastes and preferences is popularly known as Consumer's Sovereignty


What is the keystone to the American economic system?

consumer sovereignty


In the evaluation stage the consumer exhibits which behavior?

sovereignty


What is the keystone of the American economic system?

consumer sovereignty is this the real answer


How does consumer sovereignty affect business production?

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How do you use sovereignty in a sentence?

The country asserts its sovereignty by governing itself independently without external interference.


What is consumer sovereignty mean in economics?

I would take it as: consumer is supreme; disclaimer - i am not an economist; only an ordinary layman.


Does the concept of consumer sovereignty refer to situations in which consumers are represented on the Board of Directors of large corporations?

Yes, the concept of consumer sovereignty refers to situations in which consumers are represented on the Board of Directors of large corporations.


Who controls production in a pure market economy?

The people (aka. consumer sovereignty).