In 1999,McDonald's introduced the "Big Xtra" and it turned out to be a successful product.In the marketplace for fast-food products,this success would be an example of:
A) derived demand.
B) medium of exchange.
C) consumer sovereignty.
D) roundabout production.

Question

Quizplus · Accepted Answer

Consumer sovereignty refers to the idea that consumers ultimately determine the success or failure of a product in the marketplace through their buying decisions. In this case, the success of the "Big Xtra" demonstrates that consumers were willing to buy and enjoy the product, thereby contributing to its success.

In 1999,McDonald's Introduced the "Big Xtra" and It Turned Out