1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kitty [74]
3 years ago
13

explain how consumer sovereignty operates in a marketplace to determine the success or failure of an entrepreneur ​

History
2 answers:
meriva3 years ago
6 0

In the market place entrepeneurs compete for the dollar of the consumers. They are willing to interchange goods or sevices for money. The success or failure of an entrepreneur depends on how consumers approve or disapprove the products or services offered by entrepreneurs. If the product or service is seen as good or high quality then that entrepreneur will surely have high demand and will continue in the market place. If the product or service is seen as bad  or bad quality then that entrepreneur will disappear.

BaLLatris [955]3 years ago
6 0

Answer:

Consumer sovereignty operates in a marketplace to determine the success or failure of an entrepreneur through the idea of primacy of consumption over production.

Explanation:

The idea of primacy of consumption over production was introduced by Adam Smith (Scottish economist and philosopher) in 1776 . He believed that the interests of the consumer are more important than those of the producers because the sole purpose of production is consumption. They are interrelated, of course, one cannot exist without the other. However, for an entrepreneur to be successful, they need to respect and study people's needs (demands) because these will determine what needs to be produced, and in turn, boost the success of the producer. Consumers have the power to decide (sovereignty) how the marketplace must operate.

You might be interested in
What battle formation produced the most powerful fighting force in the ancient world?
Anton [14]
Phalanx was the battle formation that produced the most powerful fighting force in the ancient world
8 0
3 years ago
Correct answers and thorough explanations only please:
Step2247 [10]
I took a screenshot from my word document.

5 0
3 years ago
Describe the general Sibley went during the Civil War
MakcuM [25]

Answer:

By June 17, 1861, Sibley was promoted to brigadier general. His only major participation during the Civil War came during an attempt to invade New Mexico, and secure it for the Confederacy. He enjoyed initial success against Union forces under E.R.S.

Explanation:

7 0
3 years ago
HELPPPPPP!!! <3 IT WOULD MEAN ALONE!
xxMikexx [17]
3 is A; no taxation without representation
4 is C; France and Britain were at war a lot so since the colonies didn’t help directly they wanted them to help by funding
3 0
3 years ago
How did the united states demonstrate its isolationism policy before world war 2?
grigory [225]

Answer:

by avoiding alliances and other international relationships by encouraging alliances and international relationships by avoiding friendships with other foreign countries by encouraging independence among states in the US

Explanation:

5 0
3 years ago
Other questions:
  • Which groups ranked as artisans in emerging social hierarchies in early river civilizations? Select all that apply.
    10·2 answers
  • When was the empire state building built?
    9·1 answer
  • 6. Why does Dr. King encourage the white ministers to “let him march sometime” when referring to his protests?
    15·1 answer
  • What was President Reagan's role in bringing about the collapse of the Soviet Union?
    15·1 answer
  • In the 1400s, who expanded Inca territory by using military might and building alliances with neighbors?
    5·1 answer
  • In your own words, describe the three main statements of Article IV, Section 4 of the constitution
    15·1 answer
  • The federal government __________ is an example of establishing justice. A. establishing federal courts B. providing a national
    6·2 answers
  • Who was last country who arrived Africa's
    6·2 answers
  • What was the main target of kamikazes
    15·1 answer
  • -Bruce- -singel- -fits in tiny teacup- -cool boy- -bad boy- -pro at chips- -singel-
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!