In a free market system how are incentives related to the principal of consumer sovereignty

Question

History

Christine Brandt

6 July, 08:42

In a free market system how are incentives related to the principal of consumer sovereignty

+5

Answers (1)

Know the Answer?

Trigger · Answer 1

consumer sovereignty mean basically results in the consumers determining what the producers manufacture. In a free market, what is produced is determined by consumers' willingness and ability to pay. This is reflected in the forces of supply and demand that interact in a free market