When consumers decide what goods and services the economy produces, they are said to exercise
A) control over production of resources
B) control over all economic activity
C) the direction of the circular flow
D) consumer sovereignty
E) control over nonrenewable resources

Question

Quizplus · Accepted Answer

Consumer sovereignty refers to the idea that the preferences and choices of consumers direct the types of goods and services produced in an economy.

When Consumers Decide What Goods and Services the Economy Produces