Consumer sovereignty refers to the: A. fact that resource prices are higher than product prices in capitalistic economies. B. idea that the decisions of producers must ultimately conform to consumer demands.. C. idea that the pursuit of self-interest is in the public interest. D. fact that a Federal agency exists to protect consumers from harmful and defective products.

. B.) idea that the decisions of producers must ultimately conform to consumer demands.

Explanation:

Consumer sovereignty can be regarded as a theory which explained that the production of goods and services is been determined by consumer preferences. This implies that spending power of Consumers can be used as a Voters as far as goods are concerned, and the producer must give a response to the

preferences then make produce of those goods. It should be noted that Consumer sovereignty refers to the idea that the decisions of producers must ultimately conform to consumer demands.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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