Question on: JAMB Commerce - 2024
The term "consumer sovereignty" means that the consumer is a
A
promoter
B
king
C
manager
D
director
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Correct Option: B
The term "consumer sovereignty" implies that the consumer's preferences and choices ultimately dictate what is produced and offered in the market. They "rule" in the sense that businesses must cater to their demands to survive. Therefore, the consumer is analogous to a "king."
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