Consumer Sovereignty Means That Consumers Vote with Their Dollars in a Market

question 8

True/False

Consumer sovereignty means that consumers vote with their dollars in a market economy, which helps determine what is produced.

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Definitions:

Defensive Reaction

A response aimed at protecting oneself from criticism, harm, or some perceived threat.

Forgiveness

Accepting that circumstances cannot be changed and letting go of resentment and anger for another person’s actions or words.

Digital Divide

The gap between individuals, households, businesses, and geographic areas at different socio-economic levels with regard to their opportunities to access information and communication technologies.

Human Intuition

The ability to understand something immediately, without the need for conscious reasoning, often regarded as a gut feeling or instinct.