Consumer sovereignty means that they consumer is

Consumer sovereignty means that the consumer is always right. This implies that the consumer has the power to determine what goods and services are produced by the producers. Consumers have the right to choose the products they want to buy and the price they are willing to pay for them. As a result, producers are forced to produce goods and services that meet the needs and wants of the consumers in order to remain in business. The concept of consumer sovereignty is based on the principle of demand and supply, where the consumers' demand for goods and services determines what is produced and supplied in the market.