"Consumer Sovereignty" Refers to The

question 5

Multiple Choice

"Consumer sovereignty" refers to the:

• A)fact that resource prices tend to be high relative to product prices in capitalistic economies.
• B)idea that the pursuit of self-interest will prove ultimately to be in the public interest.
• C)notion that the decisions of producers and resource suppliers with respect to the kinds and amounts of goods produced must be appropriate to consumer demands.
• D)fact that a federal agency exists to protect consumers from harmful and defective products.

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Definitions:

Participate

To take part or become involved in a particular activity, event, or situation.

Theory Z

A management philosophy that integrates Japanese and American business practices, emphasizing employee participation, job security, and company loyalty.