Consumer sovereignty

Consumer sovereignty is an economic concept which describes consumer as an ultimate driver of demand and as an result total and only influencer of business decisions. Some authors says that there is some limitations to consumer sovereignty eg. localisation, access to information, access to finance, wealth, imperfect competition, monopoly or oligopoly. Modern economic concepts assume that consumer has total freedom in choice of products and services according to his/her preferences, it it a basis of modern capitalistic economic policy.

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