When consumers decide that they do not want virtual pets anymore, and this drives all the virtual pet producers out of business, this is a reflection of
A) an outrage
B) not related to issues of freedom
C) consumer sovereignty
D) an inefficient use of resources
E) a circular flow model

Question

Quizplus · Accepted Answer

This scenario reflects consumer sovereignty, which is the idea that consumers determine what goods and services are produced by choosing what to purchase. If consumers no longer want virtual pets, their collective decision not to buy them can lead to the producers going out of business, showcasing the power of consumer choice in the market.

When Consumers Decide That They Do Not Want Virtual Pets