In a competitive economy, the uncrowned king is—a)Governmentb)Producerc)Consumerd)SellerCorrect answer is option 'C'. Can you explain this answer?

Question

In a competitive economy, the uncrowned king is&mdash;a)Governmentb)Producerc)Consumerd)SellerCorrect answer is option 'C'. Can you explain this answer?

Answer

Whatever is produced and marketed is based on the needs and want's of the consumer . therefore consumer is the market king

Answer

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 .
HENCE CONSUMER IS THE UNCROWDED KING IN THE COMPITATIVE ECONOMY
ANS C

Answer

Consumer

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The customer. The customer is the most important person in any business as they are the ultimate decision-maker on whether or not to purchase a product or service. Businesses that prioritize their customers’ needs and preferences tend to be more successful than those that don’t. Additionally, satisfied customers are more likely to recommend a business to others, which can lead to increased revenue and growth. Therefore, it is crucial for businesses to focus on providing exceptional customer service and building strong relationships with their customers to ensure their continued success.

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Answer is c. because the market King is consumer.

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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

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Option 3 is correct .
because consumer is called the king of the market

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A competitive economy mainly aims at profit, therefore it always considers needs,tastes and preferences of consumers.

Also, the second factor is number of consumers is large.Therefore, for survival firms always try to fulfill consumer requirements. Hence, the answer is 'C'

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Uncrowned king is consumer  because consumer as a whole , is the one who decides what to produce and how much ,only with that statergy and data the firm's plan to produce  and innovate accordingly and try to earn profits out of it.

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Answer c is right

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C

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Competitive economy have many producers and  sellers. So, they  cannot be treated as king. Government have no power to influence a competitive economy. So, they are also not treated as kings. Consumer have power to influence the competitive economy because they can increase the share of product in the market but not recognised by anyone. So, they are called as Uncrowded king.

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Consumers, Because the produced goods or services are to be purchased by the consumer

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Consumer because now the market is consumer oriented

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Uncrowned king is consumer because government, seller and producer must obey the demands and needs of consumer .

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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.

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Consumer. without consumer there will be no market. so option C is right answer

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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.

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Because in competitive economy the producer will only produce what consumer wants to consume based on their tastes and preferences.

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Competitive economy means it is capitalistic.in capitalistic economy consumer is the king because ,based on his tastes and preferences ,produces makes changes in his products in order to create demand for his product

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Consumer is the correct answer because in capitalist economy consumer is free to make choice

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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

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In a competitive economy, the uncrowned king is consumer. because that is consumer who create the demand of products in market. If consumer have no need of products they don't purchase that products. And the producer of that's products companies are not earn any return of production of products and they got loss in their companies. So, we can say that consumer is uncrowned king in competitive economy.

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In a competitive economy, consumer is called uncrowned king because government, seller , producer  obey's the demand Of the consumer.

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A market without consumer is not possible.consumer is considered as a soul of market . hence they are known to be a uncrowned king of a market.

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Correct answer is option 'C'

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The uncrowned king in the competitive economy is consumer. Because everything happens according to the consumer's wish in the economy.
Hence he is the king

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Consumer is the king of market

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Option C is correct because producers produce goods according to the needs of consumers , as they create demand. Moreover, it depends on them, that, which product they want to buy or not. As like a king...

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In capitalism, there is consumer sovereignty and high competition. So, resources are allocated according to the needs of consumer for earning high profit. So he is declared as the uncrowned king of marke.

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There are many competitors in market. sellers wants people to buy product from them. they make less profit while selling product. this makes the profit of consumer as consumer gets product in fair price . so he becomes the uncrowned king in competitive economy

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In the competitive economy consumer sivereignty exist which means that buyer ultimately determine  which goods and services will be produced and in what quantities.so producer  have to produce which are preferred by consumer.so we can say consumer is the uncrowded  king

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In a competitive market .. producer give preference to the choice of consumer to produce goods. So anything that produces in competitive econmy controlled by  choice of consumer ..that's why consumer is called uncrowned king of competitive economy.

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Consumer is the king in the market because  whatever is produced it should depend on taste of the consumer

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In competitive market there is huge competition between various firms and companies and various limitation of consumers such as unknowledge , ignorance , not aware about the product price etc that's why consumers are exploited.Hence the uncrowned king is consumer

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MARKET - CONSUMER = 0
Hence, consumer is the king of the market.

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Because the consumer is the person who demands the commodity so the supply will be made based on demand

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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.

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Market king is consumer.(c) is a correct answer

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Consumer wants are unlimited then consumer is the competitive economy

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Consumer is the uncrowned king of market because the goods are produced according to the preferences and demand for products by the consumer.

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'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.

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(c ) because it is the consumer who controls the market.. without their preference,, no business can exist in the era....

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Because all things are done as per the wish of consumer in the economy. There are different types of consumers and they need different kinds of products.

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Because it's deepens upon products which are taken by costumer so the answer is consumer.

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Cunsumer is the king of economics because business produce this products who need consumer ,economy depend on consumer  needs

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Consumer is the uncrowned king in the competitive economy because everything happens according to his/her wish. He occupies the major part of economy.
Hence he is the king.

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Consumer is called uncrowned king in competitive market because competition increases with demand of the consumer as they can hike up the competition in the market

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Consumer is a market king or uncrowned king because he have to make the success of any product or unsuccess too

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The uncrowned king is consumer

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In competitive economy a firm have main motive is to  WSurvive in market thats why a firm manufactur a product which is demanded more by a consumer and every firm do same therefore consumer is king in competitive economy

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Because the production activities are based on the demand of the certain commodity which depends on the consumer tastes and preferences in the economy

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Consumer is known as uncrowned king because whatever dealing in the market are based on consumers they gave producer the profit in business so whatever consumer wants ,produced by producer hence consumer is the uncrowned king of market

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Consumer is king of marketing because whatever company produced if there is no one woh buy your product than there is no business and whatever company produced it is based on consumer preferences.

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C (Consumer)

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Due to competition the sellers go on decrease price so consumer will get benefit

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In the business the consumer is the main reason to apply some body of commerce to earn

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Correct answer is option C

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Consumer, because there are various categories of consumers. Some consumers have high utility for a product whereas some consumers have certain utility for other kind of products. Thus, consumer is important aspect in all kind of business and forall kind ofgoods.

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In a competitive market consumer determines what to produce and in what quantities by his purchasing power.The govt have no role to determine demand and supply. so as consumer determines he is the king in capitalist economy .It is given clearly in Ch 1 of Economics in CA foundation book .anyone can refer if they want

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Ans c is correct because consumer is the market king .

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Because it is consider that consumer is the king of market.So that's why answer is consumer.

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Consumer sovereignty is one of the feature of capitalist economy so, consumer have freedom to choose goods and services which they would consume.

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In an economy a only consumer is a person who contain purchase power and demand is adjusted according to the consumer

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The things which come in market are purchased by the customer. He is the king of market it means he is the important personality ,without him the market is not of any use.So,it is called that consumer ia the uncrowned king of marker

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The competition in the market is based on the preferences of the consumer hence the profit also depends upon the Internets of the consumer hence consumer is assumed to be the market king

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Consumer is the king of market because they decides tha success of the market.The market is based on the needs and wants of the consumer.

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Answer c is right because the good are produced as the demand of cunsumer.

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Answer is c because goods are produced according to the choice of consumer

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When firm compete with each other consumer get the best possibilities of price,quantity,quality of goods and services

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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 ]

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Production is done on the basis of consumer's need, preferences,taste and demand.so the consumer is the king of market

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Competitive market is type of market in Wich there are many buyers and many sellers so that buyers has a Options in front of him

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Only consumer would decide which goods to be produced.  consumer sovereignty exists in capitalist economy

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C is the and
because in the market consumer is the

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