revised sequence

revised sequence

the proposition that it is suppliers who actively determine what products are offered to consumers, rather than passively responding to the demands of buyers (see CONSUMER SOVEREIGNTY). This proposition was advanced by GALBRAITH, who suggested that large monopolistic and oligopolistic firms have the means and ability to influence consumers’ market behaviour through their NEW PRODUCT DEVELOPMENT and ADVERTISING policies.

To the extent that large suppliers are able to shape consumer choices and effectively ‘create’ the demand for products over time, they are able to make the PRICE SYSTEM producer-driven. This poses a challenge to the ‘conventional sequence’ whereby competitive firms merely serve the innate wants of consumers. See MONOPOLY, OLIGOPOLY.

References in periodicals archive ?
The revised sequence in the Khyber-Hazara-Kashmir represents Murree Formation and in the Kohat-Potwar the Chinji, Nagri and Dhok Pathan will be considered under Potwar Group.
The implementation of the revised sequence alone is not about overcoming all the challenges of the elite scrum, but it is a forward step.
emphasizes a revised sequence to aid more optimal learner achievement.
The tentative conference schedule on this page will gives a general idea of the program flow under this revised sequence of days.
Stagnation and widespread unemployment have always been on the verge of breaking out, particularly when an interlude of peace is encountered or when the Galbraithian revised sequence bogs down.
The revised sequence editor now features numbered steps which will show the details of each step without opening it.

Full browser ?