A recent trip to the grocery store was disappointing for Robert.He discovered that his favourite brand of canned salmon was no longer being carried.When he asked the store manager,he was told that customers were not buying the product in sufficient quantities to allow them to continue to stock it.This is an example of ______________,which is a fundamental part of capitalism.

Question

Quizplus · Accepted Answer

Consumer sovereignty refers to the idea that consumers have the power to dictate what products are produced and sold in a capitalist system. If consumers are not buying a product, it is likely to be discontinued by suppliers and retailers. This is what happened in Robert's case, where his favourite brand of canned salmon was not being carried due to lack of demand from consumers.

A Recent Trip to the Grocery Store Was Disappointing for Robert.He