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lawyer [7]
3 years ago
6

Consumer sovereignty assumes that which fundamental statement in a market economy is true?

Social Studies
2 answers:
butalik [34]3 years ago
8 0

The correct answer is C.

In a market economy, economic outcomes are determined by the free interactions of economic agents (households, corporations and public sector) in the markets, where they act either as producers or consumers, defining with their choices (production or<u> purchase choices, respectively), the prices and the quantities exchanged of every good and service. </u>

stellarik [79]3 years ago
7 0

The correct answer is C) Through purchase choices, consumers determine the production of goods.

Consumer sovereignty assumes that "Through purchase choices, consumers determine the production of goods."

In a free market, it is the consumer that has the power to decide what to purchase. As there are many options to buy, the consumer can determine the production of goods due to its preferences. It could be through the quality of the product, the durability, the price, the availability, the satisfaction it produces, the functions it covers, and many others. That is why it is so important that companies are always "taking the pulse," listening to what the customers have to say.

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