The Idea That Consumers Determine What Is Produced in the Economy

question 62

Multiple Choice

The idea that consumers determine what is produced in the economy through their demands is known as

• A) a laissez-faire economy.
• B) a command economy.
• C) consumer sovereignty.
• D) free enterprise.

---

Definitions:

Objective Attainment

The process of setting, pursuing, and achieving goals, which are often quantifiable and specific, within an organization or personal setting.

Performance Monitoring

The systematic process of tracking, analyzing, and improving an individual's or organization's performance over time.

Management By Objectives

A performance management approach where managers and employees work together to set, record, and monitor goals for a specific period, aiming at achieving organizational objectives.

Self-Management

The ability to understand oneself, exercise initiative, accept responsibility, and learn from experience.