"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:

Transient Exuberance

A rapid increase in the synaptic connections in an infant's brain, which later undergoes pruning to strengthen more frequently used connections.

Norm

An average, or standard, calculated from many individuals within a specific group or population.

Binocular Vision

The ability to focus both eyes in a coordinated manner to get a single, three-dimensional image with depth perception.

Sensation

Describes the initial process of detecting and encoding environmental and bodily stimuli through the sensory organs.