The concept of 'Consumer Sovereignty' means that:

CA Foundation · Business Economics · RTP · May 2026
The concept of 'Consumer Sovereignty' means that:
(A) A. Government controls what consumers can buy
(B) B. Consumers ultimately determine which goods will be produced through their purchases
(C) C. Producers decide what consumers should buy
(D) D. Only wealthy consumers have purchasing power

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Consumers ultimately determine which goods will be produced through their purchases

Topics: Nature & Scope of Business Economics

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