The term consumer sovereignty means that what is produced is ultimately determined by what consumers buy.
- The following are some restrictions on consumer sovereignty: Productive powers: In a capitalist society, the consumer's degree of autonomy is constrained by the collectively held productive abilities.
- Technical knowledge level: With the current level of technology, any things created must satisfy the consumer.
- When businesses invite consumers to test products or hear pitches for new ideas, this is an example of consumer sovereignty in action.
- It grants consumers control over the decision-making process before goods are produced.
What does consumer sovereignty mean?
- consumer autonomy. the ability of customers to control production. variable market.
- a transaction in which businesses buy home inputs for production.
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It is a case of an ethical dilemma. These are circumstances in which there is a decision to be made between two choices, neither of which settle the circumstance in a morally satisfactory manner. In such cases, societal and individual moral rules can give no tasteful result to the chooser.
Answer:
Explanation:
To run a business you firstly need investors or shareholders to help or run your business with you. They should have experience as running a business is tricky and can collapse within weeks. You also need large amounts of money to promote nad hire staff etc. You should also have an idea of what you want it to be like and what growth routes it should take. Make sure you have a target market to promote your ideas to. But make sure it is all realistic as silly ideas can be very costly.
Answer: Option B
Explanation: In simple words, functional departmentalization refers to the process in which an organisation makes different departments within, for performing different tasks.
For example - all the activities related to procurement of money will be performed by finance department.
The main advantage of doing so is that each department will perform only specific assigned activities and all the employees working in the departments will be those who are experts in the field.
