By consumer sovereignty we mean that:

Question

Quizplus · Accepted Answer

Consumer sovereignty refers to the idea that consumers determine what goods and services are produced by expressing their preferences through the purchases they make in the marketplace. It is based on the principle that businesses will produce the goods and services that consumers demand in order to make a profit. Therefore, option B, which describes consumers determining what goods and services are produced, is the correct answer.

By Consumer Sovereignty We Mean That