The assumption that consumers have power over producers through the decisions they make in purchasing goods and services is known as:

Question

Quizplus · Accepted Answer

Consumer sovereignty refers to the idea that consumers have the power to determine what goods and services are produced through the decisions they make in purchasing those goods and services. This concept is a key aspect of free market economics and emphasizes the importance of allowing consumers to make their own choices in the marketplace.

The Assumption That Consumers Have Power Over Producers Through the Decisions