Which Concept Explains How Individual Consumers in Market Economies Determine

question 44

Multiple Choice

Which concept explains how individual consumers in market economies determine what is to be produced?

• A)​competition
• B)​consumer sovereignty
• C)​decentralized decision-making
• D)​free enterprise

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Definitions:

PMI

Project Management Institute, an organization offering certifications and resources for project management professionals.

Detailed Inspection

A thorough examination and analysis to ensure compliance with standards and identify any issues or defects.

API Diesel Engine Oil

A type of engine oil that meets the performance standards set by the American Petroleum Institute (API) for diesel engines.

Diesel Particulate Filter (DPF)

A component in diesel engine exhaust systems that captures and stores exhaust soot to reduce emissions of particulate matter.