Is the term used to describe the amount of control or influence that consumers have on a market

Question

Social Studies

Keyon Mckenzie

4 May, 00:26

Is the term used to describe the amount of control or influence that consumers have on a market

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Answers (2)

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Gretchen Raymond · Answer 1

The term being used in describing the amount of control or influence that consumers have on the market is sovereignty. It is because sovereignty is being defined as a way of an individual of having to consume supreme power in which with this, they can influence other people with their power.

Quintin Harper · Answer 2

Answer: The term is used in describing the amount of control or influence that consumers have on the market is sovereignty.

Explanation:

Consumer sovereignty is an economic construct delineated by William Harold Hutt in his book Economists and therefore the Public: A Study of rivalry and perspective. In general, the term consumer sovereignty is additionally used as a hypothesis that the assembly of products and services is set by the customer's demand.