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Under normal circumstances, the concept of consumers sovereignty implies that

Economics
JAMB 1986

Under normal circumstances, the concept of consumers sovereignty implies that

  • A. the consumer and not the producer owns the means of production
  • B. the producer and not the consumer determines what is to be produced
  • C. the consumer and not the producer determines what is to be produced
  • D. both the consumer and the producer determines what should be produced
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Correct Answer: Option C
Explanation

Consumer sovereignty is the economic concept that the consumer has some controlling power over goods that are produced.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts