Christopher Stone believes that the market can ensure that companies will behave responsibly because consumers can easily avoid purchasing the products of companies that behave irresponsibly. True False

Question

Aden Hogan

Business

30 October, 22:55

Christopher Stone believes that the market can ensure that companies will behave responsibly because consumers can easily avoid purchasing the products of companies that behave irresponsibly. True False

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Mimi · Answer 1

Answer: True

Explanation: Consumers are those who buy or utilize your product. In economics consumer or buyer is King, to make profit your products must be consumed. Consumers can easily influence their purchase in a company based on their belief that the firm is responsible.

Logically, if you were to get food from an eatery and you notice they have very rude sales attendants or hygiene level is poor the probability of you going back there or referring a friend is slimmer.

So also, there are some consumers who do not buy note pads that don't have the logo of being environmentally friendly so they don't patronize them, a company that wants to be in business for long would have to check the measures of manufacturing these notes in such a way that it's consumers aren't dissatisfied.

These are 2 illustrations on how consumers can regulate companies to be responsible.