Question

Do you think that you, as a consumer, are obligated to shape the general practices of businesses with your consumer choices. Please explain and argue for you position, whatever it is.

Answer 1

In an economic perspective, it is the consumer that demands and it is the business that creates supply to cater the demand. It means that it is the consumers and their choices that shape the behavior and practices of the businesses in the economy. Precisely, it is the demand forces that make firms to operate in a way that can satisfy the demand. Further, the consumer choices of one product or service, in lieu another product or service gives indications about the:

1. Price of the product

2. Conformance to quality

3. The marketing communication used by the firm to attract the consumers

4. Response of the sales team to the consumers

5. Ethical practices and other manufacturing practices used by the business

6. Market reputation

Above indications serve a message to the business to reshape or modify their practices and comply with the best of the guidelines. The government agencies also get a clue and act proactively to regulate the firms so the interest of the consumers are protected. Since, the government is elected by the people, then it is their moral responsibility to act on behalf of the people and protect their legitimate interests. So, consumer with their choices can regulate the business practices.