Consumer Sovereignty Social Studies/Economics. Descriptive Overview: u In a free enterprise system, the consumer determines whether any business succeeds.

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Presentation transcript:

Consumer Sovereignty Social Studies/Economics

Descriptive Overview: u 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: u restate the value of consumer sovereignty; u give examples of the “power of the customer/consumer” u understand the value of continuous improvement in business.

Key Questions: u What factors must businesses consider to attract customers and why? u What is the cost of poor customer relations? u What are some general improvement strategies businesses can practice on a continuous basis?

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

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