Examlex
Those who are higher satisfied and fiercely loyal are called _______________.
Fundamental Question
Fundamental Question refers to the basic questions any economic system must answer, which include what to produce, how to produce, and for whom to produce.
Guiding Function
The role of prices in directing the allocation of resources and goods in an economy, ensuring resources are used where they are most valued.
Dollar Votes
The concept that consumers show their preferences and influence the market through where they choose to spend their money.
Consumer Sovereignty
The concept that consumers' preferences and decisions dictate the production of goods and services in an economy, emphasizing the power of consumer choice.
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