Consumer Sovereignty

Social Studies/Economics

Descriptive Overview:

In a free enterprise system, the consumer determines whether any business succeeds or fails. Therefore, businesses compete with each other for the consumer-driven market of goods and services.

Lesson Objectives/Goals:Students will be able to: restate the value of consumer

sovereignty; give examples of the “power of the

customer/consumer” understand the value of

continuous improvement in business.

Key Questions:

What factors must businesses consider to attract customers and why?

What is the cost of poor customer relations?

What are some general improvement strategies businesses can practice on a continuous basis?

Terminology/Vocabulary: consumer customer sovereignty status quo free enterprise continuous improvement