The idea that consumers ultimately dictate what not to produce by choosing what not to purchase is known as
A) laissez-faire.
B) the economic problem.
C) centralized decision making.
D) consumer sovereignty.

Question

Quizplus · Accepted Answer

Consumer sovereignty is the concept that consumers have the power to dictate production patterns through their purchasing choices. By choosing not to buy certain products, consumers signal to producers what not to produce, thereby influencing the market.

The Idea That Consumers Ultimately Dictate What Not to Produce