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Since the consumer is sovereign

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Analyze "An economist said, "Since the consumer is sovereign, and consumption is the end purpose of all production of all, therefore the economy is consumer driven, and we must do all we can to stimulate consumption. Production will then follow." Are there any flaws in this economist's logic? Which should government promote first - consumption or production? Or neither?

"Problems to Ponder" Be as specific as possible.

Reference no: EM132751270

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