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The term being used in describing the amount of control or influence that consumers have on the market is sovereignty. It is because sovereignty is being defined as a way of an individual of having to consume supreme power in which with this, they can influence other people with their power.
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Answer: The term is used in describing the amount of control or influence that consumers have on the market is sovereignty.


Explanation:


Consumer sovereignty is an economic construct delineated by William Harold Hutt in his book Economists and therefore the Public: A Study of rivalry and perspective. In general, the term consumer sovereignty is additionally used as a hypothesis that the assembly of products and services is set by the customer's demand.

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