Consumers often do not know they want something until a firm introduces it. This

ID: 1219887 • Letter: C

Question

Consumers often do not know they want something until a firm introduces it. This means that in a market system: (Points : 7)

-it is the business firms who ultimately determine what is produced

-it is the consumer who ultimately determines what is produced because they will purchase the item or not.

-it is the entrepreneurs who ultimatly determine what is produced since they invent it.

-it is the government who ultimately determines what is produced since the government is always in control.

-it is the stockholders who ultimately determine what is produced since they must be able to make money or they won't invest in it.

it is the consumer who ultimately determines what is produced because they will purchase the item or not.

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