A recent trip to the grocery store was disappointing for Robert.He discovered that his favourite brand of canned salmon was no longer being carried.When he asked the store manager,he was told that customers were not buying the product in sufficient quantities to allow them to continue to stock it.This is an example of ___________,which is a fundamental part of capitalism.

Question

Quizplus · Accepted Answer

Consumer sovereignty refers to the idea that consumers ultimately determine what goods and services will be produced based on their purchasing decisions. If consumers are not buying a particular product, businesses will stop producing or stocking it. In this case, the store manager's explanation for not carrying Robert's favourite brand of canned salmon is an example of consumer sovereignty.

A Recent Trip to the Grocery Store Was Disappointing for Robert.He