contestada

What is consumer sovereignty?
A. a market where consumers purchase goods and services collectively

B. a person or group of people living off the land

C. the concentration of the productive efforts of individuals and firms on a limited number of activities

D. the power of consumers to decide what gets produced

* The subject is economics *

Respuesta :

genelle4

D. the power of consumers to decide what gets produced

michell96

The correct answer is D. The power of consumers to decide what gets produced

Explanation:

In economics and related fields, the concept of "consumer sovereignty" refers to the power of consumers in the economy, especially in production. This occurs because the demand or willingness from consumers to pay for a product or service directly influences the types and quantity of the goods produced that is related to the supply.

For example, nowadays cellphones and similar devices are produced massively because these have become quite popular and thousands of people around the world want this product. Similarly, other devices such as radios are no longer produced massively because these are not as popular as they use to be. Thus, consumer sovereignty can be described as "The power of consumers to decide what gets produced".