Consumer sovereignty implies that
a. producers determine what goods will be produced and consumers are free to choose from among them
b. consumers choose the composition of our economy's output
c. goods are produced on the basis of need
d. the government directs the production of consumer goods in the economy
e. a committee of consumers determines the key issues in the economy
B
Economics
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"Loss" is another word for
A) profit. B) negative profit. C) cost. D) exploitation.
Economics
The equation of exchange states that the price level is equal to
A) the quantity of money. B) velocity of circulation multiplied by the quantity of money divided by real GDP. C) real GDP multiplied by the velocity of circulation divided by nominal GDP. D) the velocity of circulation.
Economics