"Buyers ultimately determine which goods and services will be produced and in what quantities." The given statement is the meaning of:

CA Foundation · Business Economics · PYQS · January 2025
"Buyers ultimately determine which goods and services will be produced and in what quantities." The given statement is the meaning of:
(A) A. Planned economy
(B) B. Consumer Sovereignty
(C) C. Freedom of economic choice
(D) D. Freedom of enterprise

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Consumer Sovereignty

Topics: Theory of Demand and Supply

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