Consumer sovereignty implies that
A) producers determine what goods will be produced and consumers are free to choose from among them
B) consumers choose the composition of our economy's output
C) goods are produced on the basis of need
D) the government directs the production of consumer goods in the economy
E) a committee of consumers determines the key issues in the economy

Question

Quizplus · Accepted Answer

Consumer sovereignty means that consumers have the power to decide what products are produced based on their purchasing choices, thereby determining the composition of the economy's output.

Consumer Sovereignty Implies That