Question 56
Basic Agricultural EconomicsUnder normal circumstances, the concept of consumer sovereignty in agriculture implies that
- A.the consumer and not the farmer determines what to produce
- B.both the farmer and the consumer determine what to produce
- C.the consumer and not the farmer owns the means of production
- D.the environmental factors determine what to produce
- E.the farmers determine what to produce.
Show the answer and explanation
Answer: A (the consumer and not the farmer determines what to produce)
Explanation
Consumer sovereignty means consumers' demand decides what farmers produce.