Consumer sovereignty is more likely to be observed in what type of economic system?

Question

Business

Leticia Lam

6 April, 18:10

Consumer sovereignty is more likely to be observed in what type of economic system?

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Answers (1)

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Maren Meyer · Answer 1

Answer: Mixed economy

Explanation:

The consumer sovereignty is simply defined as the ability of consumers to control the type of goods and services available in the market by their demand behavior.

The mixed economy is a form of economic system where there is balance between the activities of the private companies and the government.

In the mixed economy the demand of consumers is the major determinant of products in the market, which indicates consumer sovereignty.