Examlex
The external landmark identified in the figure below is the:
Market System
An economic system relying on market forces to allocate resources and to determine and regulate prices for goods and services.
What Will Be Produced
A fundamental economic question that addresses the kinds of goods and services to be made available in an economy, determined by factors such as resources, technology, and consumer preferences.
Consumer Sovereignty
The idea that what consumers want influences the goods and services produced in an economy.
Conform To Consumer Demands
Adjusting product offerings, services, or business practices to meet the expectations and preferences of consumers.
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