The situation in an economy where the desires and needs of consumers control the output of producers.
More example sentences
- More serious, the application of consumer sovereignty to real world producers cannot rely on their objective actions, but must probe into their subjective intentions.
- Our mission is to establish a worldwide consumer cooperative and to reassert consumer sovereignty over capitalism.
- The theoretical advantages of consumer sovereignty are clear; but there appear to be transaction costs in switching from the devil one knows.
Definition of consumer sovereignty in:
- The British & World English dictionary