In a competitive economy, the uncrowned king is—
  • a)
  • b)
  • c)
  • d)
Correct answer is option 'C'. Can you explain this answer?

CA Foundation Question

23 Answers
Likitha Varma answered Apr 08, 2020
Whatever is produced and marketed is based on the needs and want's of the consumer . therefore consumer is the market king

Ankit Ankit answered Aug 01, 2019
Answer is c. because the market King is consumer.

Pabbathi Himanshu answered 4 weeks ago
Customer is the king of the market it is so because what and which ever is brought by the customer is based on the taste and capacity and also the quality of the product produced if the product is not on the purchasing capacity or it is not up to the satisfaction of the consumer then he is not ready to buy it .so all the products are prepared for the consumer to buy .

Adithya Prahhu answered 3 weeks ago
Consumer. without consumer there will be no market. so option C is right answer

Paradox A answered Apr 23, 2020
Consumer because now the market is consumer oriented

Geethika Chenna answered 2 weeks ago
Whatever the product may be the product but demand and supply of it depends upon the consumption of the buyer so he is the uncrowned king who decides the fate of the product in the competitive market

Anagha Nataraj answered Aug 30, 2019
Consumer is king in a competitive economy because we decide what will be produced based on our taste , preferences and purchasing power. So we control what companies make based on our past trends of buying items/ goods.
Also, if we decide not to buy a product of a company, over time that company can go out of business so we control what does and doesn't get produced.

Somnath Khaneja answered 4 weeks ago
Option c) consumer is correct, as consumer is the uncrowned king of the competitive economy as this economy is totally based upon its consumers and customers and price is also decided in market according to their demand for specific product

Narinder Sharma answered 1 week ago
Correct answer is option 'C'

Nilofar Ladhani answered 2 weeks ago
Consumer is the king of market

Zero Smart answered 5 days ago
Because the consumer is the person who demands the commodity so the supply will be made based on demand

Ssc Entertainment answered Apr 26, 2020
Because in competitive economy the producer will only produce what consumer wants to consume based on their tastes and preferences.

Buchi Anusha Reddy answered 4 weeks ago
Consumer is the king in the market because whatever is produced it should depend on taste of the consumer

Jothika Dinakaran answered 3 weeks ago
CONSUMER is the correct answer.
Because there consumer decides what to be produced at what prices according to their demand. in this consumer plays an important role in the production of goods and services in the market.

Richa Agrawal answered Apr 27, 2020
'C' is right answer because producer can produce goods and services as per the needs and wants of consumer &consumer is also free to select that from which producer he has to buy.

Kiran Kumar K N answered Jul 22, 2019
Consumer wants are unlimited then consumer is the competitive economy

Urvashi Porwal answered 3 days ago
Correct answer is Option 'c'. Competition is the most important feature or characteristic of CAPITALIST ECONOMY. That's why this economy can be called competitive economy. Whereas in the above question, the uncrowned king in a competitive economy is CONSUMER as consumer has the freedom of choice for choosing their taste , preferences and liking.So consumer is the king but uncrowned as it influences the producers and suppliers through indirect power of demand.

Aayu Rajput answered 4 days ago
Answer c is right because the good are produced as the demand of cunsumer.

Zoya Khanum answered Apr 19, 2020
When firm compete with each other consumer get the best possibilities of price,quantity,quality of goods and services

Pranjal Karwa answered Apr 19, 2020
A Competitive economy runs by the demand side of a market . the consumers are the former of demand. . thus the producer produces the goods which are in the demand at a particular rate during the given period of time . As goods are produced and supplied according to the demand created by the consumer ,  . so they can be called as the uncrowned king of the competitive economy  [ i.e., free market economy ]  

Madina Siddiqui answered Apr 26, 2020
Production is done on the basis of consumer's need, preferences,taste and the consumer is the king of market

This discussion on In a competitive economy, the uncrowned king is—a)Governmentb)Producerc)Consumerd)SellerCorrect answer is option 'C'. Can you explain this answer? is done on EduRev Study Group by CA Foundation Students. The Questions and Answers of In a competitive economy, the uncrowned king is—a)Governmentb)Producerc)Consumerd)SellerCorrect answer is option 'C'. Can you explain this answer? are solved by group of students and teacher of CA Foundation, which is also the largest student community of CA Foundation. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for CA Foundation on EduRev and even discuss your questions like In a competitive economy, the uncrowned king is—a)Governmentb)Producerc)Consumerd)SellerCorrect answer is option 'C'. Can you explain this answer? over here on EduRev! Apart from being the largest CA Foundation community, EduRev has the largest solved Question bank for CA Foundation.