The consumer sovereignty is the control exercised by consumers' preferences on the production of goods (Option 2). According to this theory or economic concept, the consumers have the power to judge what goods as well as services are produced. The consumers in their role of citizens decide on the production of goods and services which is determined by the consumers' demand. As a result, the firms will respond to consumers' preferences and will produce the goods considering the consumers' demands.
Connecting the past to the present helps you to know how people have made decisions about certain similar issues in the past, which can give you insight into how to solve the problem you're currently facing.
