If consumer sovereignty is considered greatest in a system of pure competition, why is sovereignty still limited?

Limits to consumer sovereignty can be the price set by producers on their goods and services. There is also competition on which goods one can purchase. You also have to consider the purchasing power of the consumer. Consumers can only buy what the best products that they can afford.

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saadhussain514 saadhussain514 · Answer 2 · 2018-10-14T22:45:38+02:00

Answer:

An individual consumer’s wishes might not adjust with the bulk.

“Consumer sovereignty” is one of those ideas that increase and are internationally important long before they are explicitly identified and named. Much of the material of customer sovereignty is mentioned in Adam Smith. The centre of consequent classical business on the cost of making as the basic determinant of market decisions tentatively sidetracked this importance.