QUESTION 27 (Consider This) In 2013, McDonald's introduced Fish McBites, which failed to catch on with...
QUESTION 27
-
(Consider This) In 2013, McDonald's introduced Fish McBites, which failed to catch on with the public and was subsequently dropped from the menu. This failure illustrates the idea of
consumer sovereignty.
technological change.
downsloping demand.
specialization.
Homework Answers
McDonald's introduced Fish McBites, which failed to catch on with the public and was subsequently dropped from the menu. This failure illustrates the idea of Consumer sovereignty.
Explanation
Consumer sovereignty implies that market is determined largely by consumer's demand, and producers should cater to the demands of the consumers. In this case, the Mcdonalds had to take off the Fish Mcbites off their menu, because consumers demand for it was lacking hence this product could not generate revenue to the Mcdonalds. This represents the power of the consumer's demand or Consumer sovereignty.
Add Answer to:
QUESTION 27
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U.S. economy for the next few months?
a.
Shortages are causing panic buying by households, which has
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attached.
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the project?
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