Answer:
False
Explanation:
The theory that states that consumers have the power to decide the services and products that should be produced in an economy. This theory places the customers preferences in the centre of the product development. The term was coined by the English economist William Harold Hutt in 1936.
According to him, the consumers have the authority to determine the goods that must be produced to fulfil their need, hence their decision, preferences and habits should be taken into account before developing any new product. Other scholars have pointed out that marketing efforts can influence the consumer's decisions.
