Briefly explain the extent to which consumer sovereignty determines how resources are used in the various sectors of Uganda’s economy.
Consumer sovereignty is playing an increasing role in resource allocation in both private and public sector.
The private sector allocates resources according to demand for goods and services in other words business establishment are based on products and services demanded by customers
Public sector as well allocates resources according to the demand for such products such as schools, hospitals, etc.
However, to some extent, due to government interference like price control, taxation and nationalization of enterprises, consumer sovereignty is downplayed.
CATEGORIES Economics
TAGS Dr. Bbosa Science