Consumer Sovereignty

question 112

Multiple Choice

Consumer sovereignty

• A) is dependent on profits.
• B) is the idea that consumers can buy whatever they want to.
• C) is the idea that consumers determine what is produced in the economy through their demands.
• D) is only possible in a monarchy.

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Definitions:

Behavior Theory

A theory that suggests that behaviors are learned and maintained through interactions with the environment, including stimuli and reinforcements.

Psychobiological

Relating to the biological underpinnings of psychological phenomena, emphasizing the interaction between biological processes and behavior.

Humanistic

Relating to an approach in psychology that emphasizes individual worth, personal growth, and the concept of self-actualization.

Phobic Disorder

An anxiety disorder characterized by an intense and irrational fear of specific objects, activities, or situations.