Question

Question Mode Multiple Choice Question True or false: In a market system, consumers exercise consumer sovereignty, which is crucial in determining the types and quantities of goods purchased.

Answer 1

Consumers have some sort of power in their hands that makes them decide the quantities of goods they can purchase, True.

What is Consumer sovereignty?

simply put, consumer sovereignty can be defined as the freedom a person has in the economy that makes them decide what to purchase.

Hence the statement "customer is always right".

Learn more about Consumer sovereignty here:

https://brainly.com/question/4397035

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