"Consumer Sovereignty" Refers to the

question 172

Multiple Choice

"Consumer sovereignty" refers to the

• A) fact that resource prices are higher than product prices in capitalistic economies.
• B) idea that the pursuit of self-interest is in the public interest.
• C) idea that the decisions of producers must ultimately conform to consumer demands.
• D) fact that a federal agency exists to protect consumers from harmful and defective products.

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Definitions:

Value Judgments

Evaluations based on personal or societal standards of what is important, good, or desirable.

Objectivity

The observation of things as they exist in reality as opposed to one’s feelings or beliefs about them.

Sexual Norms

The accepted rules and behaviors regarding sexuality within a society, which guide sexual conduct and expectations.

Scholar

An individual who engages in or has expert knowledge of academic study or scholarship in a particular field.