Author Question: Consumer sovereignty means that consumers vote with their dollars in a market economy, which helps ... (Read 55 times)

washai · **on:** Jun 30, 2018

Consumer sovereignty means that consumers vote with their dollars in a market economy, which helps determine what is produced.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Why is China still poor in per capita terms despite having the second-largest economy in the world in terms of real GDP?

Benayers · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

True

Answer to Question 2

China has over 1 billion people. The huge population explains the low per capita income despite having the second-largest economy in the world.