ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Marketing
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Misleading conduct
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Planned Obsolescence
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All of the above
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Detailed explanation-1: -The imposition of income tax and commodity taxes adversely affects the consumer s sovereignty. Both tend to reduce the disposable income of the consumer with the result that his choice of goods is limited.
Detailed explanation-2: -An example of consumer sovereignty is when companies bring in consumers to test products or listen to pitches for new ideas. It gives the consumer power in the decision making process before products go into production.
Detailed explanation-3: -Consumer sovereignty is the economic concept that the consumer has some controlling power over goods that are produced, and the idea that the consumer is the best judge of their own welfare.
Detailed explanation-4: -Answer and Explanation: The statement, “Consumer sovereignty is the power of governments to decide what gets produced, ” is False.